Spark Investment Management LLC raised its position in Fossil Group Inc (NASDAQ:FOSL) by 100.1% in the 1st quarter, HoldingsChannel reports. The fund owned 505,900 shares of the accessories brand company’s stock after purchasing an additional 253,100 shares during the period. Spark Investment Management LLC’s holdings in Fossil Group were worth $6,424,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Northern Trust Corp grew its position in 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 in the last quarter. Investors Research Corp acquired a new stake in Fossil Group in the first quarter valued at approximately $137,000. Aperio Group LLC acquired a new stake in Fossil Group in the first quarter valued at approximately $200,000. Synovus Financial Corp grew its position in Fossil Group by 33.9% in the first quarter. Synovus Financial Corp now owns 46,449 shares of the accessories brand company’s stock valued at $592,000 after acquiring an additional 11,748 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Fossil Group by 11.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 602,475 shares of the accessories brand company’s stock valued at $7,652,000 after acquiring an additional 63,930 shares in the last quarter. 94.08% of the stock is owned by institutional investors.
In other news, CEO Kosta N. Kartsotis sold 15,421 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $13.99, for a total transaction of $215,739.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 679,972 shares of company stock valued at $9,041,909 in the last three months. Corporate insiders own 8.20% of the company’s stock.
Several brokerages have issued reports on FOSL. Zacks Investment Research raised shares of Fossil Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, May 11th. ValuEngine raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Buckingham Research raised their price target on shares of Fossil Group from $5.00 to $8.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 14th. BidaskClub downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, KeyCorp reissued an “overweight” rating and set a $25.00 price target (up previously from $15.00) on shares of Fossil Group in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Fossil Group presently has a consensus rating of “Hold” and an average target price of $13.00.
FOSL stock opened at $20.56 on Friday. Fossil Group Inc has a twelve month low of $5.50 and a twelve month high of $20.65. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.21 and a quick ratio of 1.19. The company has a market cap of $963.11 million, a PE ratio of 411.20, a P/E/G ratio of 16.65 and a beta of -0.11.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, May 8th. The accessories brand company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.03). Fossil Group had a negative return on equity of 4.36% and a negative net margin of 17.23%. The company had revenue of $569.20 million for the quarter, compared to analyst estimates of $539.08 million. During the same period in the previous year, the business posted ($1.00) EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. analysts anticipate that Fossil Group Inc will post 0.23 EPS for the current year.
About Fossil Group
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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