Arizona State Retirement System Increases Stake in Fossil Group, Inc. (FOSL)
Arizona State Retirement System grew its position in Fossil Group, Inc. (NASDAQ:FOSL) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,000 shares of the accessories brand company’s stock after purchasing an additional 100 shares during the period. Arizona State Retirement System’s holdings in Fossil Group were worth $228,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in FOSL. Louisiana State Employees Retirement System boosted its stake in shares of Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock worth $178,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund boosted its position in Fossil Group by 1.2% during the second quarter. Texas Permanent School Fund now owns 30,784 shares of the accessories brand company’s stock worth $319,000 after purchasing an additional 379 shares in the last quarter. Sather Financial Group Inc boosted its position in Fossil Group by 1.0% during the first quarter. Sather Financial Group Inc now owns 50,900 shares of the accessories brand company’s stock worth $888,000 after purchasing an additional 500 shares in the last quarter. Wells Fargo & Company MN boosted its position in Fossil Group by 1.9% during the first quarter. Wells Fargo & Company MN now owns 31,572 shares of the accessories brand company’s stock worth $551,000 after purchasing an additional 586 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Fossil Group by 2.0% during the first quarter. First Trust Advisors LP now owns 99,472 shares of the accessories brand company’s stock worth $1,736,000 after purchasing an additional 1,931 shares in the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP John A. White purchased 13,000 shares of Fossil Group stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $7.26 per share, with a total value of $94,380.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren E. Hart purchased 14,347 shares of Fossil Group stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $6.99 per share, for a total transaction of $100,285.53. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 114,945 shares of company stock valued at $923,917. 12.80% of the stock is currently owned by corporate insiders.
FOSL has been the topic of a number of recent analyst reports. Piper Jaffray Companies reiterated a “hold” rating and set a $15.00 price target on shares of Fossil Group in a research report on Friday, July 14th. ValuEngine cut Fossil Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub raised Fossil Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised Fossil Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Telsey Advisory Group cut their price target on Fossil Group from $13.00 to $11.00 and set a “market perform” rating for the company in a report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $16.23.
Shares of Fossil Group, Inc. (NASDAQ FOSL) opened at 8.06 on Wednesday. The firm’s 50-day moving average price is $9.22 and its 200-day moving average price is $12.80. Fossil Group, Inc. has a one year low of $6.80 and a one year high of $36.87. The stock’s market capitalization is $391.08 million.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. Equities research analysts anticipate that Fossil Group, Inc. will post $0.47 EPS for the current fiscal year.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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