Comerica Bank Cuts Holdings in Vera Bradley, Inc. (VRA)
Comerica Bank decreased its position in Vera Bradley, Inc. (NASDAQ:VRA) by 6.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 19,946 shares of the textile maker’s stock after selling 1,319 shares during the period. Comerica Bank owned about 0.06% of Vera Bradley worth $188,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Vera Bradley by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 34,978 shares of the textile maker’s stock worth $342,000 after purchasing an additional 2,811 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Vera Bradley during the 2nd quarter worth approximately $115,000. Rhumbline Advisers increased its position in shares of Vera Bradley by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 40,155 shares of the textile maker’s stock worth $393,000 after purchasing an additional 990 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Vera Bradley by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 79,630 shares of the textile maker’s stock worth $779,000 after purchasing an additional 418 shares during the last quarter. Finally, Texas Permanent School Fund increased its position in shares of Vera Bradley by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock worth $135,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Vera Bradley, Inc. (NASDAQ VRA) opened at 8.81 on Friday. The firm’s 50 day moving average price is $9.37 and its 200 day moving average price is $9.09. Vera Bradley, Inc. has a 52-week low of $7.70 and a 52-week high of $16.19. The firm has a market cap of $316.85 million, a price-to-earnings ratio of 31.13 and a beta of 0.90.
Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Vera Bradley had a return on equity of 6.64% and a net margin of 2.21%. The company had revenue of $112.42 million for the quarter, compared to analyst estimates of $111.72 million. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts anticipate that Vera Bradley, Inc. will post $0.47 EPS for the current fiscal year.
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Several research analysts have weighed in on the company. BidaskClub raised Vera Bradley from a “sell” rating to a “hold” rating in a research report on Thursday. FBR & Co set a $12.00 price target on Vera Bradley and gave the stock a “buy” rating in a research report on Monday, August 28th. KeyCorp reaffirmed a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. Zacks Investment Research raised Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $10.00 price target on shares of Vera Bradley in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.60.
In related news, major shareholder Michael C. Ray sold 237,500 shares of Vera Bradley stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the sale, the insider now directly owns 120,712 shares in the company, valued at $993,459.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 40.90% of the stock is owned by company insiders.
About Vera Bradley
Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.
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