Teacher Retirement System of Texas reduced its position in shares of FirstCash Inc (NYSE:FCFS) by 9.6% during the 2nd quarter, Holdings Channel reports. The firm owned 9,449 shares of the credit services provider’s stock after selling 1,006 shares during the quarter. Teacher Retirement System of Texas’ holdings in FirstCash were worth $849,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of FirstCash by 2.1% during the 1st quarter. BlackRock Inc. now owns 6,038,198 shares of the credit services provider’s stock worth $490,602,000 after acquiring an additional 125,823 shares during the period. Earnest Partners LLC lifted its holdings in shares of FirstCash by 18.9% during the 1st quarter. Earnest Partners LLC now owns 1,643,543 shares of the credit services provider’s stock worth $133,538,000 after acquiring an additional 261,499 shares during the period. Stephens Investment Management Group LLC lifted its holdings in shares of FirstCash by 15.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 455,027 shares of the credit services provider’s stock worth $36,971,000 after acquiring an additional 59,337 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of FirstCash by 19.0% during the 1st quarter. New York State Common Retirement Fund now owns 450,226 shares of the credit services provider’s stock worth $36,581,000 after acquiring an additional 71,889 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of FirstCash by 1.7% during the 1st quarter. Wells Fargo & Company MN now owns 429,753 shares of the credit services provider’s stock worth $34,917,000 after acquiring an additional 7,157 shares during the period. 95.95% of the stock is currently owned by institutional investors.

Shares of FCFS stock opened at $80.75 on Friday. FirstCash Inc has a 1-year low of $57.75 and a 1-year high of $95.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.36 and a current ratio of 6.48. The stock has a market cap of $3.63 billion, a PE ratio of 29.47, a P/E/G ratio of 1.16 and a beta of 0.48.

FirstCash (NYSE:FCFS) last posted its quarterly earnings results on Thursday, July 26th. The credit services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. FirstCash had a net margin of 9.40% and a return on equity of 10.32%. The firm had revenue of $419.97 million for the quarter, compared to analyst estimates of $424.01 million. During the same quarter last year, the firm posted $0.52 earnings per share. FirstCash’s revenue for the quarter was up .8% compared to the same quarter last year. analysts forecast that FirstCash Inc will post 3.5 earnings per share for the current fiscal year.

FirstCash declared that its board has approved a stock buyback plan on Thursday, July 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Wednesday, August 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.88 annualized dividend and a yield of 1.09%. FirstCash’s payout ratio is 32.12%.

FCFS has been the topic of several recent analyst reports. Credit Suisse Group lowered shares of FirstCash from an “outperform” rating to a “neutral” rating in a report on Friday, June 1st. ValuEngine lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 5th. Jefferies Financial Group increased their price objective on shares of FirstCash to $103.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a report on Friday, July 6th. Finally, Wedbush lowered shares of FirstCash from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $87.00 to $90.00 in a report on Monday, May 7th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $92.80.

About FirstCash

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

See Also: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for FirstCash (NYSE:FCFS)

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