Bank of New York Mellon Corp Sells 269,138 Shares of Zumiez Inc. (ZUMZ)
Bank of New York Mellon Corp lowered its stake in shares of Zumiez Inc. (NASDAQ:ZUMZ) by 37.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,736 shares of the apparel and footwear maker’s stock after selling 269,138 shares during the period. Bank of New York Mellon Corp owned 1.80% of Zumiez worth $6,464,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in ZUMZ. Nordea Investment Management AB increased its stake in Zumiez by 440.8% in the second quarter. Nordea Investment Management AB now owns 45,191 shares of the apparel and footwear maker’s stock valued at $647,000 after buying an additional 36,834 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Zumiez during the second quarter valued at $168,000. Stoneridge Investment Partners LLC increased its stake in Zumiez by 10.0% in the second quarter. Stoneridge Investment Partners LLC now owns 89,599 shares of the apparel and footwear maker’s stock valued at $1,282,000 after buying an additional 8,158 shares during the period. Adams Diversified Equity Fund Inc. purchased a new stake in Zumiez during the second quarter valued at $325,000. Finally, Arizona State Retirement System purchased a new stake in Zumiez during the first quarter valued at $204,000. 83.04% of the stock is currently owned by institutional investors.
Shares of Zumiez Inc. (NASDAQ:ZUMZ) traded up 1.61% during mid-day trading on Wednesday, reaching $17.09. The company’s stock had a trading volume of 165,744 shares. The company has a market cap of $424.34 million, a P/E ratio of 22.28 and a beta of 1.49. Zumiez Inc. has a 12 month low of $11.53 and a 12 month high of $22.14. The company has a 50-day moving average of $16.81 and a 200-day moving average of $16.63.
Zumiez (NASDAQ:ZUMZ) last issued its quarterly earnings results on Thursday, September 8th. The apparel and footwear maker reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $177.35 million. Zumiez had a net margin of 2.48% and a return on equity of 7.21%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. Equities research analysts forecast that Zumiez Inc. will post $0.71 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. B. Riley reissued a “neutral” rating and set a $18.00 price objective on shares of Zumiez in a report on Wednesday, September 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 target price (up from $16.00) on shares of Zumiez in a report on Tuesday, September 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 target price on shares of Zumiez in a report on Saturday, September 10th. Jefferies Group reaffirmed a “hold” rating and set a $17.00 target price on shares of Zumiez in a report on Friday, September 9th. Finally, Robert W. Baird lifted their target price on Zumiez from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. Zumiez currently has an average rating of “Hold” and an average target price of $16.80.
Zumiez Inc is a specialty retailer of apparel, footwear, accessories and hardgoods for men and women. The Company operates under the names Zumiez and Blue Tomato. Additionally, the Company operates e-commerce Websites at www.zumiez.com and www.blue-tomato.com. Its product categories are men’s apparel, accessories, footwear, hardgoods and junior’s apparel.
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