Bank of New York Mellon Corp decreased its stake in Citi Trends Inc. (NASDAQ:CTRN) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 89,650 shares of the company’s stock after selling 5,012 shares during the period. Bank of New York Mellon Corp owned approximately 0.61% of Citi Trends worth $1,392,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Panagora Asset Management Inc. raised its stake in Citi Trends by 6.7% in the first quarter. Panagora Asset Management Inc. now owns 201,522 shares of the company’s stock valued at $3,593,000 after buying an additional 12,577 shares during the last quarter. Royce & Associates LP raised its stake in Citi Trends by 23.3% in the first quarter. Royce & Associates LP now owns 264,673 shares of the company’s stock valued at $4,719,000 after buying an additional 50,000 shares during the last quarter. Strs Ohio raised its stake in Citi Trends by 12.5% in the second quarter. Strs Ohio now owns 38,700 shares of the company’s stock valued at $601,000 after buying an additional 4,300 shares during the last quarter. Northpointe Capital LLC raised its stake in Citi Trends by 7.9% in the second quarter. Northpointe Capital LLC now owns 175,070 shares of the company’s stock valued at $2,719,000 after buying an additional 12,875 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its stake in Citi Trends by 31.5% in the first quarter. Nantahala Capital Management LLC now owns 1,002,603 shares of the company’s stock valued at $17,876,000 after buying an additional 240,194 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Citi Trends Inc. (NASDAQ:CTRN) traded down 0.76% on Tuesday, reaching $19.54. 11,956 shares of the company were exchanged. Citi Trends Inc. has a 52-week low of $14.01 and a 52-week high of $27.75. The company has a market capitalization of $286.75 million, a P/E ratio of 22.67 and a beta of 0.34. The stock has a 50 day moving average of $19.68 and a 200-day moving average of $17.65.
Citi Trends (NASDAQ:CTRN) last posted its quarterly earnings data on Wednesday, August 17th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The company had revenue of $155.30 million for the quarter. Citi Trends had a net margin of 1.86% and a return on equity of 5.64%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, analysts predict that Citi Trends Inc. will post $1.00 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 30th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%. Citi Trends’s dividend payout ratio is presently 27.59%.
Several equities research analysts have recently issued reports on CTRN shares. TheStreet raised shares of Citi Trends from a “hold” rating to a “buy” rating in a research note on Monday, September 19th. Zacks Investment Research raised shares of Citi Trends from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, MKM Partners reissued a “neutral” rating and set a $16.00 target price on shares of Citi Trends in a research note on Wednesday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.50.
Citi Trends Company 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.
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