Goldman Sachs Group Inc. Takes Position in Crown Crafts, Inc. (CRWS)
Goldman Sachs Group Inc. acquired a new stake in shares of Crown Crafts, Inc. (NASDAQ:CRWS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,748 shares of the textile maker’s stock, valued at approximately $154,000. Goldman Sachs Group Inc. owned about 0.19% of Crown Crafts as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CRWS. Bard Associates Inc. raised its stake in Crown Crafts by 1,659.8% in the first quarter. Bard Associates Inc. now owns 180,120 shares of the textile maker’s stock valued at $1,481,000 after buying an additional 169,885 shares during the last quarter. Nationwide Fund Advisors acquired a new stake in Crown Crafts during the first quarter valued at about $270,000. Wellington Management Group LLP raised its stake in Crown Crafts by 3.3% in the first quarter. Wellington Management Group LLP now owns 901,752 shares of the textile maker’s stock valued at $7,439,000 after buying an additional 28,400 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Crown Crafts by 3,825.5% in the first quarter. JPMorgan Chase & Co. now owns 23,553 shares of the textile maker’s stock valued at $194,000 after buying an additional 22,953 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Crown Crafts by 5.7% in the first quarter. Royce & Associates LP now owns 209,900 shares of the textile maker’s stock valued at $1,732,000 after buying an additional 11,400 shares during the last quarter. 41.87% of the stock is owned by institutional investors and hedge funds.
Shares of Crown Crafts, Inc. (NASDAQ CRWS) traded up 2.29% on Thursday, reaching $6.70. 5,247 shares of the company traded hands. Crown Crafts, Inc. has a 52-week low of $5.40 and a 52-week high of $10.24. The stock has a 50 day moving average of $5.88 and a 200 day moving average of $7.17. The stock has a market cap of $67.38 million, a price-to-earnings ratio of 13.67 and a beta of 0.47.
Crown Crafts (NASDAQ:CRWS) last posted its quarterly earnings data on Thursday, August 10th. The textile maker reported $0.08 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The company had revenue of $13.65 million for the quarter, compared to analysts’ expectations of $13.49 million. Crown Crafts had a net margin of 7.79% and a return on equity of 13.46%. On average, analysts expect that Crown Crafts, Inc. will post $0.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 6th. Investors of record on Friday, September 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Thursday, September 14th. Crown Crafts’s dividend payout ratio (DPR) is 64.00%.
Several equities research analysts recently issued reports on CRWS shares. TheStreet lowered shares of Crown Crafts from a “b-” rating to a “c+” rating in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Crown Crafts from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. FBR & Co reaffirmed a “mkt perform” rating and issued a $7.00 price objective on shares of Crown Crafts in a research note on Tuesday, July 11th. Finally, Roth Capital set a $9.00 price objective on shares of Crown Crafts and gave the company a “buy” rating in a research note on Saturday, June 17th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.56.
In related news, Director Donald R. Ratajczak acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $5.75 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director now owns 125,151 shares in the company, valued at $719,618.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.17% of the stock is currently owned by corporate insiders.
About Crown Crafts
Crown Crafts, Inc operates indirectly through its subsidiaries, Crown Crafts Infant Products, Inc, Hamco, Inc and Carousel Designs, LLC, in the infant and toddler products segment within the consumer products industry. The Company operates though the segment of infant and toddler products. These products consist of infant and toddler bedding, bibs, soft bath products, disposable products and accessories.
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