Schroder Investment Management Group Decreases Holdings in Fossil Group, Inc. (FOSL)
Schroder Investment Management Group reduced its stake in Fossil Group, Inc. (NASDAQ:FOSL) by 64.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,952 shares of the accessories brand company’s stock after selling 235,661 shares during the period. Schroder Investment Management Group owned 0.27% of Fossil Group worth $1,344,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Fossil Group in the second quarter valued at $113,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Fossil Group in the second quarter valued at about $122,000. Louisiana State Employees Retirement System grew its stake in shares of Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock valued at $178,000 after acquiring an additional 100 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Fossil Group in the first quarter valued at about $196,000. Finally, Northwestern Mutual Investment Management Company LLC acquired a new position in shares of Fossil Group in the second quarter valued at about $204,000. Hedge funds and other institutional investors own 97.21% of the company’s stock.
In related news, VP John A. White bought 13,000 shares of Fossil Group stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $7.26 per share, with a total value of $94,380.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gregory A. Mckelvey bought 5,712 shares of Fossil Group stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $8.73 per share, with a total value of $49,865.76. The disclosure for this purchase can be found here. Insiders have acquired a total of 114,945 shares of company stock valued at $923,917 in the last ninety days. Insiders own 12.80% of the company’s stock.
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Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Fossil Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Telsey Advisory Group decreased their price target on shares of Fossil Group from $13.00 to $11.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 9th. Wells Fargo & Company restated an “underperform” rating and issued a $8.00 price target on shares of Fossil Group in a research note on Thursday, August 3rd. Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price target on shares of Fossil Group in a research note on Friday, July 14th. Finally, Buckingham Research decreased their price target on shares of Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.23.
Shares of Fossil Group, Inc. (FOSL) opened at 8.88 on Friday. Fossil Group, Inc. has a 52-week low of $6.80 and a 52-week high of $36.87. The company’s market cap is $430.87 million. The company’s 50-day moving average is $8.82 and its 200 day moving average is $12.36.
Fossil Group (NASDAQ:FOSL) last posted its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The business had revenue of $596.80 million during the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS. On average, analysts anticipate that Fossil Group, Inc. will post $0.47 EPS for the current year.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include 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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