California State Teachers Retirement System Sells 2,781 Shares of Citi Trends Inc. (CTRN)
California State Teachers Retirement System reduced its stake in shares of Citi Trends Inc. (NASDAQ:CTRN) by 8.4% during the second quarter, Holdings Channel reports. The fund owned 30,184 shares of the company’s stock after selling 2,781 shares during the period. California State Teachers Retirement System owned about 0.21% of Citi Trends worth $469,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Nantahala Capital Management LLC boosted its stake in Citi Trends by 31.5% in the first quarter. Nantahala Capital Management LLC now owns 1,002,603 shares of the company’s stock valued at $17,876,000 after buying an additional 240,194 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Citi Trends by 23.3% in the first quarter. Royce & Associates LP now owns 264,673 shares of the company’s stock worth $4,719,000 after buying an additional 50,000 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock worth $3,593,000 after buying an additional 12,577 shares during the period. Northpointe Capital LLC boosted its stake in shares of Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock worth $2,719,000 after buying an additional 12,875 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Citi Trends by 1.8% in the first quarter. Geode Capital Management LLC now owns 104,354 shares of the company’s stock worth $1,860,000 after buying an additional 1,894 shares during the period. 94.69% of the stock is owned by institutional investors.
Citi Trends Inc. (NASDAQ:CTRN) traded up 0.92% on Monday, hitting $19.79. The stock had a trading volume of 10,212 shares. The stock has a 50 day moving average price of $19.68 and a 200 day moving average price of $17.63. The company has a market cap of $290.42 million, a P/E ratio of 22.96 and a beta of 0.34. Citi Trends Inc. has a 1-year low of $14.01 and a 1-year high of $27.75.
Citi Trends (NASDAQ:CTRN) last released its earnings results on Wednesday, August 17th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. Citi Trends had a return on equity of 5.64% and a net margin of 1.86%. The company earned $155.30 million during the quarter. During the same period last year, the firm posted $0.01 EPS. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that Citi Trends Inc. will post $1.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, August 26th. Citi Trends’s dividend payout ratio (DPR) is presently 27.59%.
A number of equities research analysts have commented on CTRN shares. TheStreet raised Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research raised Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, MKM Partners reissued a “neutral” rating and issued a $16.00 price objective on shares of Citi Trends in a research note on Wednesday, August 17th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.50.
Citi Trends Company Profile
Citi Trends, Inc is a retailer of urban fashion apparel and accessories. The Company’s segment is retail operations. The Company operates approximately 520 stores in both urban and rural markets in over 30 states. The Company offers products under its brands, such as Citi Steps and Red Ape. The Company’s merchandise includes apparel, accessories and home.
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