Fossil Group (FOSL) Trading Down 9.8%

Fossil Group Inc (NASDAQ:FOSL) dropped 9.8% on Thursday . The stock traded as low as $16.20 and last traded at $17.17. Approximately 3,265,897 shares were traded during mid-day trading, an increase of 127% from the average daily volume of 1,435,590 shares. The stock had previously closed at $19.03.

Several research analysts have recently issued reports on FOSL shares. BidaskClub raised Fossil Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, October 9th. ValuEngine raised Fossil Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Finally, TheStreet cut Fossil Group from a “c-” rating to a “d+” rating in a research note on Monday, December 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $22.50.

The company has a market capitalization of $941.14 million, a PE ratio of 354.00 and a beta of 0.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.10.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Wednesday, November 7th. The accessories brand company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.29. Fossil Group had a positive return on equity of 0.15% and a negative net margin of 4.90%. The company had revenue of $609.00 million during the quarter, compared to analysts’ expectations of $616.30 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Fossil Group Inc will post 1.03 earnings per share for the current fiscal year.

In other news, VP John A. White sold 18,800 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $20.75, for a total value of $390,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Skinner sold 6,000 shares of the stock in a transaction on Monday, November 26th. The stock was sold at an average price of $21.31, for a total value of $127,860.00. Following the completion of the transaction, the director now directly owns 42,943 shares of the company’s stock, valued at approximately $915,115.33. The disclosure for this sale can be found here. In the last three months, insiders sold 41,103 shares of company stock valued at $829,347. Company insiders own 8.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in Fossil Group by 4.9% during the fourth quarter. State of Alaska Department of Revenue now owns 15,164 shares of the accessories brand company’s stock valued at $238,000 after buying an additional 709 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Fossil Group in the 3rd quarter valued at $486,000. Synovus Financial Corp boosted its position in shares of Fossil Group by 17.9% in the 3rd quarter. Synovus Financial Corp now owns 43,050 shares of the accessories brand company’s stock valued at $1,004,000 after purchasing an additional 6,550 shares during the period. Palo Capital Inc. acquired a new position in shares of Fossil Group in the 3rd quarter valued at $156,000. Finally, IndexIQ Advisors LLC boosted its position in shares of Fossil Group by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 178,996 shares of the accessories brand company’s stock valued at $4,167,000 after purchasing an additional 6,761 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

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About Fossil Group (NASDAQ:FOSL)

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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