Morgan Stanley reduced its stake in Fossil Group, Inc. (NASDAQ:FOSL) by 8.0% during the first quarter, Holdings Channel reports. The firm owned 278,401 shares of the accessories brand company’s stock after selling 24,351 shares during the period. Morgan Stanley’s holdings in Fossil Group were worth $4,858,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Fossil Group by 86.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,746,955 shares of the accessories brand company’s stock valued at $30,484,000 after buying an additional 810,769 shares during the period. Geode Capital Management LLC boosted its stake in shares of Fossil Group by 9.8% in the first quarter. Geode Capital Management LLC now owns 344,598 shares of the accessories brand company’s stock valued at $6,012,000 after buying an additional 30,723 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Fossil Group by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,644,137 shares of the accessories brand company’s stock valued at $63,591,000 after buying an additional 462,851 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Fossil Group during the first quarter valued at $2,024,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Fossil Group during the first quarter valued at $246,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.

Fossil Group, Inc. (NASDAQ FOSL) traded up 3.16% on Thursday, reaching $9.15. 490,194 shares of the company’s stock were exchanged. Fossil Group, Inc. has a one year low of $8.37 and a one year high of $36.87. The firm has a 50 day moving average price of $10.43 and a 200 day moving average price of $15.28. The firm’s market cap is $443.77 million.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $596.80 million during the quarter, compared to the consensus estimate of $617.89 million. Fossil Group had a positive return on equity of 5.80% and a negative net margin of 11.33%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. On average, equities analysts anticipate that Fossil Group, Inc. will post $0.87 earnings per share for the current year.

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Several brokerages recently weighed in on FOSL. Instinet reduced their price target on shares of Fossil Group from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and issued a $19.00 price target on shares of Fossil Group in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Fossil Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Buckingham Research reduced their price target on shares of Fossil Group from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Telsey Advisory Group reduced their price target on shares of Fossil Group from $13.00 to $11.00 and set a “market perform” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.23.

In related news, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at approximately $36,901,797.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total value of $12,136,750.00. Following the sale, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold a total of 2,220,281 shares of company stock valued at $23,790,210 over the last three months. Corporate insiders own 12.80% of the company’s stock.

About Fossil Group

Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.

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Institutional Ownership by Quarter for Fossil Group (NASDAQ:FOSL)

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