Schwab Charles Investment Management Inc. lowered its position in Fossil Group Inc (NASDAQ:FOSL) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 560,305 shares of the accessories brand company’s stock after selling 42,170 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Fossil Group were worth $15,056,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp raised its stake in shares of Fossil Group by 1.5% in the first quarter. Northern Trust Corp now owns 551,961 shares of the accessories brand company’s stock valued at $7,009,000 after acquiring an additional 7,923 shares during the period. Spark Investment Management LLC raised its stake in shares of Fossil Group by 100.1% in the first quarter. Spark Investment Management LLC now owns 505,900 shares of the accessories brand company’s stock valued at $6,424,000 after acquiring an additional 253,100 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Fossil Group in the first quarter valued at $5,812,000. Think Investments LP purchased a new stake in shares of Fossil Group in the first quarter valued at $5,715,000. Finally, Wells Fargo & Company MN raised its stake in shares of Fossil Group by 6.2% in the second quarter. Wells Fargo & Company MN now owns 418,819 shares of the accessories brand company’s stock valued at $11,254,000 after acquiring an additional 24,439 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FOSL opened at $24.49 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. Fossil Group Inc has a 12 month low of $5.50 and a 12 month high of $32.17.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.65. The firm had revenue of $576.60 million for the quarter, compared to analysts’ expectations of $571.95 million. Fossil Group had a negative net margin of 5.13% and a negative return on equity of 1.21%. sell-side analysts predict that Fossil Group Inc will post 0.77 earnings per share for the current year.
In other Fossil Group news, EVP Darren E. Hart sold 25,662 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $26.30, for a total transaction of $674,910.60. Following the transaction, the executive vice president now directly owns 116,325 shares in the company, valued at approximately $3,059,347.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory A. Mckelvey sold 26,138 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total transaction of $679,588.00. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
A number of research analysts have recently commented on FOSL shares. Zacks Investment Research upgraded shares of Fossil Group from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Monday, May 21st. KeyCorp upped their price target on shares of Fossil Group from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 4th. ValuEngine upgraded shares of Fossil Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. BidaskClub cut shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. Finally, Telsey Advisory Group upped their price target on shares of Fossil Group from $16.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.33.
Fossil Group Profile
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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