JPMorgan Chase & Co. Grows Holdings in Fossil Group, Inc. (FOSL)
JPMorgan Chase & Co. raised its stake in Fossil Group, Inc. (NASDAQ:FOSL) by 3,915.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,514,634 shares of the accessories brand company’s stock after purchasing an additional 2,452,006 shares during the quarter. JPMorgan Chase & Co. owned about 5.19% of Fossil Group worth $26,027,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Fossil Group in the second quarter valued at about $113,000. Campbell & CO Investment Adviser LLC purchased a new position in Fossil Group in the second quarter valued at about $122,000. Louisiana State Employees Retirement System raised its position in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock valued at $178,000 after purchasing an additional 100 shares during the period. Koch Industries Inc. purchased a new position in Fossil Group in the first quarter valued at about $196,000. Finally, Wayne Hummer Investments L.L.C. purchased a new position in Fossil Group in the first quarter valued at about $205,000. 97.21% of the stock is currently owned by institutional investors.
Shares of Fossil Group, Inc. (NASDAQ FOSL) opened at 9.02 on Tuesday. Fossil Group, Inc. has a one year low of $6.80 and a one year high of $36.87. The company’s market capitalization is $437.66 million. The company has a 50-day moving average price of $8.88 and a 200 day moving average price of $12.42.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05. The business had revenue of $596.80 million during the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, analysts forecast that Fossil Group, Inc. will post $0.47 EPS for the current fiscal year.
In related news, insider Gregory A. Mckelvey acquired 5,712 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average price of $8.73 per share, with a total value of $49,865.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James M. Zimmerman acquired 36,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were bought at an average cost of $8.30 per share, with a total value of $298,800.00. The disclosure for this purchase can be found here. Insiders have bought 114,945 shares of company stock valued at $923,917 in the last ninety days. 12.80% of the stock is owned by company insiders.
FOSL has been the topic of several research reports. ValuEngine lowered Fossil Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Company reissued an “underperform” rating and issued a $8.00 price objective (down from $12.00) on shares of Fossil Group in a research report on Friday, June 16th. Buckingham Research raised Fossil Group from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 price objective on shares of Fossil Group in a research report on Friday, July 14th. Finally, Zacks Investment Research raised Fossil Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.23.
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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