Fossil Group Inc (FOSL) Shares Bought by BlackRock Inc.
BlackRock Inc. grew its stake in shares of Fossil Group Inc (NASDAQ:FOSL) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 6,665,046 shares of the accessories brand company’s stock after purchasing an additional 93,411 shares during the period. BlackRock Inc. owned approximately 0.13% of Fossil Group worth $104,842,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in Fossil Group during the fourth quarter worth approximately $27,000. Kentucky Retirement Systems acquired a new stake in Fossil Group during the third quarter worth approximately $486,000. Palo Capital Inc. acquired a new stake in Fossil Group during the third quarter worth approximately $156,000. Virtu Financial LLC acquired a new stake in Fossil Group during the third quarter worth approximately $212,000. Finally, Martingale Asset Management L P acquired a new stake in Fossil Group during the third quarter worth approximately $280,000. 89.08% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on FOSL. BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. TheStreet cut shares of Fossil Group from a “c-” rating to a “d+” rating in a report on Monday, December 10th. ValuEngine raised shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Wells Fargo & Co cut their price objective on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating on the stock in a report on Thursday, February 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $17.00 target price (down from $20.00) on shares of Fossil Group in a report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.
Shares of Fossil Group stock opened at $14.26 on Thursday. The firm has a market capitalization of $707.44 million, a PE ratio of 18.28 and a beta of 0.21. Fossil Group Inc has a 12 month low of $12.04 and a 12 month high of $32.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 2.08.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.26). The business had revenue of $786.90 million during the quarter, compared to analyst estimates of $805.17 million. Fossil Group had a negative net margin of 0.14% and a positive return on equity of 3.86%. The business’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts expect that Fossil Group Inc will post 0.64 EPS for the current fiscal year.
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Fossil Group Profile
Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.
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