Pinnacle Associates Ltd. Cuts Holdings in Canada Goose Holdings Inc. $GOOS

Pinnacle Associates Ltd. decreased its position in Canada Goose Holdings Inc. (NYSE:GOOS) by 20.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 381,644 shares of the company’s stock after selling 97,049 shares during the period. Pinnacle Associates Ltd. owned about 0.39% of Canada Goose worth $4,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOS. MQS Management LLC purchased a new position in Canada Goose in the first quarter valued at $86,000. Vanguard Personalized Indexing Management LLC purchased a new position in Canada Goose in the second quarter valued at $151,000. Charles Schwab Investment Management Inc. increased its holdings in Canada Goose by 62.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,693 shares of the company’s stock valued at $180,000 after buying an additional 8,690 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Canada Goose by 8.7% in the first quarter. Mackenzie Financial Corp now owns 23,223 shares of the company’s stock valued at $184,000 after buying an additional 1,864 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Canada Goose by 5.8% in the second quarter. Public Employees Retirement System of Ohio now owns 16,791 shares of the company’s stock valued at $187,000 after buying an additional 914 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Canada Goose in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Canada Goose from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Barclays dropped their target price on shares of Canada Goose from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Wells Fargo & Company upgraded shares of Canada Goose from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 1st. Finally, TD Cowen upgraded shares of Canada Goose from a “hold” rating to a “buy” rating and lifted their target price for the company from $16.00 to $18.00 in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Canada Goose currently has an average rating of “Hold” and a consensus price target of $15.00.

Canada Goose Stock Performance

GOOS opened at $13.90 on Friday. The firm has a market capitalization of $1.35 billion, a PE ratio of 40.88, a PEG ratio of 1.02 and a beta of 1.62. Canada Goose Holdings Inc. has a twelve month low of $6.73 and a twelve month high of $15.43. The firm’s 50-day moving average price is $13.62 and its 200 day moving average price is $12.00. The company has a current ratio of 2.02, a quick ratio of 0.89 and a debt-to-equity ratio of 0.87.

Canada Goose (NYSE:GOOS) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.04). The business had revenue of $77.91 million for the quarter, compared to analyst estimates of $68.33 million. Canada Goose had a return on equity of 19.85% and a net margin of 3.48%.During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, sell-side analysts expect that Canada Goose Holdings Inc. will post 0.7 EPS for the current fiscal year.

About Canada Goose

Canada Goose Holdings Inc, together with its subsidiaries, designs, manufactures, and sells performance luxury apparel for men, women, youth, children, and babies in Canada, the United States, Asia Pacific, Europe, the Middle East, and Africa. The company operates through three segments: Direct-to-Consumer, Wholesale, and Other.