State Board of Administration of Florida Retirement System reduced its position in Fossil Group Inc. (NASDAQ:FOSL) by 53.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,489 shares of the company’s stock after selling 25,786 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Fossil Group were worth $642,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Fossil Group by 115.6% in the first quarter. BlackRock Fund Advisors now owns 1,388,760 shares of the company’s stock worth $61,689,000 after buying an additional 744,537 shares during the last quarter. Scopia Capital Management LP increased its stake in shares of Fossil Group by 450.7% in the first quarter. Scopia Capital Management LP now owns 395,925 shares of the company’s stock worth $17,587,000 after buying an additional 324,035 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Fossil Group by 166.6% in the first quarter. Renaissance Technologies LLC now owns 257,011 shares of the company’s stock worth $11,416,000 after buying an additional 160,611 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Fossil Group during the second quarter worth about $4,046,000. Finally, Horan Capital Management increased its stake in shares of Fossil Group by 111.2% in the second quarter. Horan Capital Management now owns 179,902 shares of the company’s stock worth $5,132,000 after buying an additional 94,701 shares during the last quarter. 95.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fossil Group Inc. (NASDAQ:FOSL) traded down 0.36% during mid-day trading on Monday, reaching $27.67. The company had a trading volume of 441,975 shares. The firm has a 50-day moving average price of $29.12 and a 200-day moving average price of $32.74. Fossil Group Inc. has a 1-year low of $26.03 and a 1-year high of $58.18. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.57 and a beta of 1.89.
Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, August 9th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm earned $685 million during the quarter, compared to the consensus estimate of $670.97 million. Fossil Group had a return on equity of 16.91% and a net margin of 4.49%. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. Equities analysts expect that Fossil Group Inc. will post $1.87 earnings per share for the current year.
A number of equities research analysts have recently issued reports on FOSL shares. Piper Jaffray Cos. reissued an “underweight” rating and issued a $25.00 price target on shares of Fossil Group in a report on Wednesday, June 22nd. Nomura decreased their price objective on shares of Fossil Group from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Cowen and Company restated a “market perform” rating and issued a $30.00 price objective on shares of Fossil Group in a research report on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating on shares of Fossil Group in a research report on Monday, September 12th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $30.89.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are 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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