State Board of Administration of Florida Retirement System increased its holdings in Citi Trends, Inc. (NASDAQ:CTRN) by 199.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,268 shares of the company’s stock after purchasing an additional 30,812 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.31% of Citi Trends worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTRN. Algert Global LLC acquired a new position in Citi Trends in the 2nd quarter worth about $2,103,000. Kennedy Capital Management Inc. raised its holdings in Citi Trends by 69.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 169,198 shares of the company’s stock worth $2,876,000 after purchasing an additional 69,089 shares during the period. Aegis Financial Corp raised its holdings in Citi Trends by 113.1% in the 1st quarter. Aegis Financial Corp now owns 115,686 shares of the company’s stock worth $1,967,000 after purchasing an additional 61,397 shares during the period. AWM Investment Company Inc. raised its holdings in Citi Trends by 13.9% in the 1st quarter. AWM Investment Company Inc. now owns 430,000 shares of the company’s stock worth $7,310,000 after purchasing an additional 52,427 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Citi Trends by 321.8% in the 1st quarter. Citadel Advisors LLC now owns 55,005 shares of the company’s stock worth $935,000 after purchasing an additional 41,964 shares during the period. 90.76% of the stock is owned by institutional investors.

Citi Trends, Inc. (NASDAQ CTRN) opened at 19.03 on Friday. Citi Trends, Inc. has a one year low of $15.54 and a one year high of $22.73. The firm’s 50 day moving average price is $19.06 and its 200-day moving average price is $19.11. The firm has a market cap of $273.67 million, a PE ratio of 20.91 and a beta of 0.42.

Citi Trends (NASDAQ:CTRN) last announced its quarterly earnings results on Wednesday, August 16th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). The firm had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $164.70 million. Citi Trends had a return on equity of 6.93% and a net margin of 1.88%. Citi Trends’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. Equities analysts predict that Citi Trends, Inc. will post $1.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, August 25th. Citi Trends’s dividend payout ratio (DPR) is 35.16%.

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A number of equities analysts recently weighed in on the company. BidaskClub raised Citi Trends from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. TheStreet cut Citi Trends from a “b” rating to a “c+” rating in a report on Wednesday, September 6th. Finally, ValuEngine cut Citi Trends from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.

Citi Trends 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.

Institutional Ownership by Quarter for Citi Trends (NASDAQ:CTRN)

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