Jacobs Levy Equity Management Inc. Acquires 164,760 Shares of Fossil Group Inc (NASDAQ:FOSL)
Jacobs Levy Equity Management Inc. grew its holdings in shares of Fossil Group Inc (NASDAQ:FOSL) by 661.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 189,660 shares of the accessories brand company’s stock after acquiring an additional 164,760 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Fossil Group were worth $1,495,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Fossil Group by 8.3% during the fourth quarter. State Street Corp now owns 1,524,522 shares of the accessories brand company’s stock valued at $12,013,000 after acquiring an additional 116,357 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Fossil Group by 12.9% during the fourth quarter. Bank of New York Mellon Corp now owns 752,323 shares of the accessories brand company’s stock worth $5,927,000 after buying an additional 86,038 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Fossil Group during the fourth quarter worth $5,448,000. Maverick Capital Ltd. bought a new position in Fossil Group during the third quarter worth $7,019,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Fossil Group by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 543,051 shares of the accessories brand company’s stock worth $4,280,000 after buying an additional 57,895 shares during the last quarter. 92.35% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on FOSL shares. Wells Fargo & Co lowered their target price on shares of Fossil Group from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Monday, March 16th. BidaskClub downgraded shares of Fossil Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 11th. ValuEngine downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reduced their price target on shares of Fossil Group from $7.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.83.
NASDAQ:FOSL opened at $3.95 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.09 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $189.15 million, a price-to-earnings ratio of -3.76 and a beta of 0.64. The firm has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $8.32. Fossil Group Inc has a 12 month low of $2.84 and a 12 month high of $15.01.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, February 26th. The accessories brand company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.85). The company had revenue of $711.60 million during the quarter, compared to analyst estimates of $724.65 million. Fossil Group had a negative return on equity of 6.26% and a negative net margin of 2.36%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts predict that Fossil Group Inc will post -0.15 earnings per share for the current fiscal year.
Fossil Group Company Profile
Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.
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