First Trust Advisors LP cut its position in shares of Guess Inc. (NYSE:GES) by 54.9% during the second quarter, Holdings Channel reports. The institutional investor owned 182,854 shares of the company’s stock after selling 222,298 shares during the period. First Trust Advisors LP owned approximately 0.22% of Guess worth $2,752,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. raised its position in shares of Guess by 24.1% in the second quarter. TD Asset Management Inc. now owns 23,700 shares of the company’s stock worth $357,000 after buying an additional 4,600 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of Guess by 10.6% in the second quarter. Commonwealth Equity Services Inc now owns 19,807 shares of the company’s stock worth $298,000 after buying an additional 1,904 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Guess by 0.5% in the second quarter. California Public Employees Retirement System now owns 313,734 shares of the company’s stock worth $4,722,000 after buying an additional 1,600 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Guess during the second quarter worth $242,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Guess by 11.6% in the second quarter. Mutual of America Capital Management LLC now owns 49,073 shares of the company’s stock worth $739,000 after buying an additional 5,106 shares in the last quarter. 77.69% of the stock is currently owned by institutional investors and hedge funds.
Guess Inc. (NYSE:GES) traded down 2.07% during trading on Tuesday, hitting $14.67. The stock had a trading volume of 657,665 shares. The firm has a market cap of $1.24 billion, a P/E ratio of 18.48 and a beta of 0.85. The stock’s 50 day moving average price is $15.44 and its 200 day moving average price is $16.55. Guess Inc. has a 12-month low of $13.78 and a 12-month high of $23.45.
Guess (NYSE:GES) last posted its earnings results on Wednesday, August 24th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.07. Guess had a return on equity of 5.16% and a net margin of 3.10%. The business had revenue of $545 million for the quarter, compared to analysts’ expectations of $551.53 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Guess Inc. will post $0.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend is Friday, September 2nd. Guess’s dividend payout ratio (DPR) is currently 112.50%.
A number of brokerages have recently weighed in on GES. Zacks Investment Research lowered Guess from a “buy” rating to a “hold” rating in a report on Thursday, September 8th. B. Riley reissued a “buy” rating and issued a $21.00 price objective on shares of Guess in a report on Tuesday, August 30th. Jefferies Group increased their price objective on Guess from $16.00 to $17.00 and gave the company a “hold” rating in a report on Thursday, August 25th. Telsey Advisory Group upped their target price on Guess from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday, August 25th. Finally, Piper Jaffray Cos. set a $12.00 target price on Guess and gave the stock a “sell” rating in a research note on Sunday, August 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Guess has a consensus rating of “Hold” and an average target price of $18.44.
In related news, Director Anthony Chidoni sold 4,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $15.54, for a total value of $62,160.00. Following the transaction, the director now owns 157,744 shares in the company, valued at approximately $2,451,341.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.80% of the company’s stock.
Guess Company Profile
Guess?, Inc designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world.
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