Bank of New York Mellon Corp Raises Position in Zumiez Inc. (NASDAQ:ZUMZ)

Bank of New York Mellon Corp lifted its holdings in shares of Zumiez Inc. (NASDAQ:ZUMZ) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,383 shares of the apparel and footwear maker’s stock after purchasing an additional 1,257 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of Zumiez worth $765,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Zumiez during the fourth quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of Zumiez by 6,451.4% during the 1st quarter. GAMMA Investing LLC now owns 2,293 shares of the apparel and footwear maker’s stock valued at $34,000 after acquiring an additional 2,258 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Zumiez during the 4th quarter worth about $140,000. Wells Fargo & Company MN boosted its position in shares of Zumiez by 20.6% in the fourth quarter. Wells Fargo & Company MN now owns 9,093 shares of the apparel and footwear maker’s stock worth $174,000 after acquiring an additional 1,555 shares during the last quarter. Finally, State of Wyoming grew its holdings in Zumiez by 52.5% in the fourth quarter. State of Wyoming now owns 10,067 shares of the apparel and footwear maker’s stock valued at $193,000 after purchasing an additional 3,464 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.

Insider Activity

In related news, Director Liliana Gil Valletta sold 6,600 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $12.82, for a total transaction of $84,612.00. Following the completion of the sale, the director owned 10,809 shares of the company’s stock, valued at approximately $138,571.38. This represents a 37.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.20% of the company’s stock.

Zumiez Stock Down 3.1%

Shares of ZUMZ opened at $13.28 on Friday. Zumiez Inc. has a fifty-two week low of $11.31 and a fifty-two week high of $31.37. The company’s fifty day moving average is $13.22 and its two-hundred day moving average is $13.75. The firm has a market cap of $235.99 million, a PE ratio of 1,329.33 and a beta of 0.97.

Zumiez (NASDAQ:ZUMZ) last issued its earnings results on Thursday, June 5th. The apparel and footwear maker reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.02). The firm had revenue of $184.34 million during the quarter, compared to analyst estimates of $182.23 million. Zumiez had a net margin of 0.08% and a return on equity of 0.23%. Zumiez’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.86) EPS. As a group, equities research analysts anticipate that Zumiez Inc. will post -0.12 earnings per share for the current year.

Zumiez announced that its board has initiated a stock repurchase program on Thursday, June 5th that allows the company to repurchase $15.00 million in shares. This repurchase authorization allows the apparel and footwear maker to reacquire up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Zumiez Company Profile

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.