Synovus Financial Corp raised its stake in shares of Fossil Group Inc (NASDAQ:FOSL) by 17.9% in the third quarter, Holdings Channel reports. The fund owned 43,050 shares of the accessories brand company’s stock after purchasing an additional 6,550 shares during the period. Synovus Financial Corp’s holdings in Fossil Group were worth $1,004,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. AMS Capital Ltda acquired a new stake in Fossil Group in the 3rd quarter valued at about $920,000. Palo Capital Inc. acquired a new stake in Fossil Group in the 3rd quarter valued at about $156,000. Creative Planning acquired a new stake in Fossil Group in the 3rd quarter valued at about $349,000. Strs Ohio grew its stake in Fossil Group by 65.1% in the 3rd quarter. Strs Ohio now owns 38,300 shares of the accessories brand company’s stock valued at $891,000 after acquiring an additional 15,100 shares during the last quarter. Finally, Alpha Windward LLC acquired a new stake in Fossil Group in the 3rd quarter valued at about $501,000. Institutional investors and hedge funds own 91.15% of the company’s stock.
A number of research firms have issued reports on FOSL. BidaskClub upgraded shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 30th. ValuEngine upgraded shares of Fossil Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 1st. Zacks Investment Research lowered shares of Fossil Group from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. TheStreet upgraded shares of Fossil Group from a “d” rating to a “c-” rating in a report on Wednesday, August 8th. Finally, Telsey Advisory Group upped their target price on shares of Fossil Group from $16.00 to $27.00 and gave the company a “market perform” rating in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Fossil Group currently has a consensus rating of “Hold” and a consensus price target of $19.20.
In other 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 legal filing with the SEC, which is available at 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. 8.20% of the stock is currently owned by corporate insiders.
NASDAQ:FOSL opened at $23.67 on Wednesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 473.40 and a beta of -0.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 2.11. Fossil Group Inc has a 12-month low of $5.50 and a 12-month high of $32.17.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, August 7th. The accessories brand company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.65. The company had revenue of $576.60 million for the quarter, compared to analyst estimates of $571.95 million. Fossil Group had a negative net margin of 5.13% and a negative return on equity of 1.21%. Analysts forecast that Fossil Group Inc will post 0.77 earnings per share for the current year.
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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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