Classic Fund Management Aktiengesellschaft
recently revealed that they own a 5.3% stake in Fossil Group, Inc. (NASDAQ:FOSL) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Tuesday, July 25th. The investor owns 2,568,051 shares of the stock worth $21,058,018. The disclosure is available through Edgar at this hyperlink.
Classic Fund Management Aktiengesellschaft
provided the following explanation of their ownership:
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Several other hedge funds and other institutional investors also recently bought and sold shares of FOSL. Russell Investments Group Ltd. acquired a new position in shares of Fossil Group during the fourth quarter valued at approximately $1,518,000. State Board of Administration of Florida Retirement System increased its position in shares of Fossil Group by 14.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 25,517 shares of the accessories brand company’s stock valued at $660,000 after buying an additional 3,198 shares in the last quarter. Comerica Bank increased its position in shares of Fossil Group by 6.4% in the fourth quarter. Comerica Bank now owns 31,553 shares of the accessories brand company’s stock valued at $794,000 after buying an additional 1,906 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fossil Group by 55.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 936,186 shares of the accessories brand company’s stock valued at $24,210,000 after buying an additional 332,793 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Fossil Group during the fourth quarter valued at approximately $217,000. 97.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fossil Group, Inc. (NASDAQ:FOSL) opened at 8.20 on Friday. The company’s 50 day moving average price is $10.38 and its 200 day moving average price is $15.12. Fossil Group, Inc. has a 12 month low of $7.92 and a 12 month high of $36.87. The company’s market cap is $397.70 million.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The company had revenue of $596.80 million during the quarter, compared to the consensus estimate of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. Fossil Group’s revenue was down 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. On average, equities analysts expect that Fossil Group, Inc. will post $0.47 EPS for the current fiscal year.
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FOSL has been the subject of several analyst reports. Buckingham Research raised Fossil Group from an “underperform” rating to a “neutral” rating in a report on Tuesday, June 20th. ValuEngine cut Fossil Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Vetr cut Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price target for the company. in a report on Monday, April 17th. TheStreet cut Fossil Group from a “c-” rating to a “d+” rating in a report on Thursday, May 11th. Finally, Zacks Investment Research raised Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $16.23.
In related news, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the transaction, the chairman now owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the transaction, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at approximately $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold 2,220,281 shares of company stock valued at $23,790,210 over the last quarter. Insiders own 12.80% of the company’s stock.
Fossil Group Company Profile
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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