Jarislowsky Fraser Ltd Reduces Stake in Luxottica Group SpA (LUX)
Jarislowsky Fraser Ltd cut its position in Luxottica Group SpA (NYSE:LUX) by 28.0% during the second quarter, Holdings Channel reports. The fund owned 97,734 shares of the company’s stock after selling 38,064 shares during the period. Jarislowsky Fraser Ltd’s holdings in Luxottica Group SpA were worth $5,695,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of LUX. Boston Financial Mangement LLC increased its stake in shares of Luxottica Group SpA by 289.5% in the first quarter. Boston Financial Mangement LLC now owns 244,220 shares of the company’s stock worth $13,444,000 after buying an additional 181,520 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Luxottica Group SpA during the first quarter worth $8,304,000. Goldman Sachs Group Inc. increased its stake in shares of Luxottica Group SpA by 279.8% in the first quarter. Goldman Sachs Group Inc. now owns 67,093 shares of the company’s stock worth $3,693,000 after buying an additional 104,402 shares during the last quarter. TD Asset Management Inc. acquired a new stake in shares of Luxottica Group SpA during the first quarter worth $3,200,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Luxottica Group SpA by 108.4% in the first quarter. Envestnet Asset Management Inc. now owns 78,500 shares of the company’s stock worth $4,320,000 after buying an additional 40,830 shares during the last quarter. Institutional investors and hedge funds own 1.68% of the company’s stock.
Luxottica Group SpA (NYSE:LUX) traded up 0.41% during midday trading on Wednesday, hitting $60.90. The stock had a trading volume of 349,483 shares. The firm’s 50-day moving average price is $59.65 and its 200 day moving average price is $56.17. Luxottica Group SpA has a 12 month low of $44.85 and a 12 month high of $62.57.
A number of equities research analysts have weighed in on LUX shares. Morgan Stanley upgraded Luxottica Group SpA from an “equal weight” rating to an “overweight” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded Luxottica Group SpA from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $49.00.
Luxottica Group SpA Company Profile
Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.
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