Principal Financial Group Inc. Boosts Position in HSN, Inc. (HSNI)
Principal Financial Group Inc. increased its holdings in shares of HSN, Inc. (NASDAQ:HSNI) by 4.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,596 shares of the specialty retailer’s stock after purchasing an additional 5,414 shares during the quarter. Principal Financial Group Inc. owned 0.25% of HSN worth $4,166,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of HSNI. BlackRock Inc. increased its stake in HSN by 23,031.4% during the 1st quarter. BlackRock Inc. now owns 3,240,483 shares of the specialty retailer’s stock worth $120,222,000 after purchasing an additional 3,226,474 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in HSN during the 1st quarter worth approximately $16,834,000. Foresters Investment Management Company Inc. bought a new stake in HSN during the 1st quarter worth approximately $9,124,000. Marshall Wace North America L.P. increased its stake in HSN by 127.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 385,417 shares of the specialty retailer’s stock worth $12,333,000 after purchasing an additional 216,094 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in HSN by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 2,682,508 shares of the specialty retailer’s stock worth $99,521,000 after purchasing an additional 209,968 shares in the last quarter. 57.89% of the stock is owned by institutional investors and hedge funds.
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A number of analysts recently issued reports on HSNI shares. Maxim Group set a $61.00 target price on HSN and gave the stock a “buy” rating in a research note on Friday, July 7th. Aegis lowered their target price on HSN from $39.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, July 6th. Zacks Investment Research raised HSN from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. FBR & Co increased their target price on HSN from $35.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Wednesday, July 12th. Finally, Sidoti cut HSN from a “buy” rating to a “neutral” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.71.
HSN, Inc. (NASDAQ:HSNI) opened at 38.40 on Thursday. The firm has a market cap of $2.01 billion, a P/E ratio of 17.22 and a beta of 1.33. HSN, Inc. has a 52-week low of $30.75 and a 52-week high of $42.75. The firm’s 50-day moving average price is $37.47 and its 200-day moving average price is $36.29.
HSN (NASDAQ:HSNI) last released its quarterly earnings data on Thursday, August 3rd. The specialty retailer reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The firm had revenue of $821.40 million during the quarter, compared to the consensus estimate of $831.18 million. HSN had a return on equity of 64.60% and a net margin of 3.36%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities research analysts expect that HSN, Inc. will post $2.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Wednesday, September 6th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, September 1st. This represents a $1.40 annualized dividend and a dividend yield of 3.65%. HSN’s dividend payout ratio is 63.06%.
HSN, Inc is an interactive multi-channel retailer. The Company markets and sells a range of third party and merchandise directly to consumers through various platforms, including television home shopping programing broadcast on the HSN television networks and other direct-response television marketing; catalogs, consisting of the Cornerstone portfolio of print catalogs, which includes, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements; Websites, which consist primarily of HSN.com, joymangano.com and the five branded Websites operated by Cornerstone; mobile devices; retail and outlet stores, and wholesale distribution of certain products to other retailers.
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