Fossil Group, Inc. (FOSL) Holdings Trimmed by California State Teachers Retirement System
California State Teachers Retirement System lessened its holdings in Fossil Group, Inc. (NASDAQ:FOSL) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,575 shares of the accessories brand company’s stock after selling 7,100 shares during the quarter. California State Teachers Retirement System owned 0.16% of Fossil Group worth $782,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of FOSL. BlackRock Inc. boosted its holdings in Fossil Group by 19,301.2% in the first quarter. BlackRock Inc. now owns 5,209,210 shares of the accessories brand company’s stock worth $90,900,000 after acquiring an additional 5,182,360 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Fossil Group by 3,915.2% in the second quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock worth $26,027,000 after acquiring an additional 2,452,006 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Fossil Group by 6,109.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,273,027 shares of the accessories brand company’s stock worth $13,176,000 after acquiring an additional 1,252,527 shares in the last quarter. Southpoint Capital Advisors LP acquired a new stake in Fossil Group in the second quarter worth about $10,350,000. Finally, Pacifica Capital Investments LLC boosted its holdings in Fossil Group by 95.6% in the second quarter. Pacifica Capital Investments LLC now owns 1,220,167 shares of the accessories brand company’s stock worth $12,629,000 after acquiring an additional 596,346 shares in the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.
Fossil Group, Inc. (NASDAQ:FOSL) opened at $7.08 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $375.12, a P/E ratio of 9.43 and a beta of 0.77. Fossil Group, Inc. has a 12-month low of $5.50 and a 12-month high of $35.21.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.32. The company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. Fossil Group’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. equities analysts predict that Fossil Group, Inc. will post -0.22 EPS for the current year.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Fossil Group from a “hold” rating to a “sell” rating in a report on Friday, November 10th. ValuEngine downgraded Fossil Group from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America decreased their target price on Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Buckingham Research decreased their target price on Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies set a $10.00 target price on Fossil Group and gave the stock a “hold” rating in a report on Thursday, October 12th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.54.
In related news, EVP Martin Frey purchased 7,500 shares of Fossil Group stock in a transaction that occurred on Wednesday, November 22nd. The stock was bought at an average cost of $7.41 per share, for a total transaction of $55,575.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory A. Mckelvey purchased 110,000 shares of Fossil Group stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $6.22 per share, with a total value of $684,200.00. The disclosure for this purchase can be found here. 12.80% of the stock is currently owned by company insiders.
About Fossil Group
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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