Penserra Capital Management LLC increased its stake in 1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) by 55.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,241 shares of the specialty retailer’s stock after acquiring an additional 98,300 shares during the period. Penserra Capital Management LLC owned approximately 0.42% of 1-800 FLOWERS.COM worth $2,711,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLWS. JPMorgan Chase & Co. grew its position in 1-800 FLOWERS.COM by 67.1% in the first quarter. JPMorgan Chase & Co. now owns 9,785 shares of the specialty retailer’s stock worth $100,000 after acquiring an additional 3,929 shares in the last quarter. Cigna Investments Inc. New bought a new stake in 1-800 FLOWERS.COM in the second quarter worth about $120,000. Karp Capital Management Corp bought a new stake in 1-800 FLOWERS.COM in the first quarter worth about $130,000. American International Group Inc. lifted its stake in 1-800 FLOWERS.COM by 7.1% in the first quarter. American International Group Inc. now owns 16,036 shares of the specialty retailer’s stock worth $164,000 after purchasing an additional 1,066 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in 1-800 FLOWERS.COM by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 18,906 shares of the specialty retailer’s stock worth $192,000 after purchasing an additional 4,546 shares during the last quarter. Institutional investors own 33.84% of the company’s stock.
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Several analysts have issued reports on FLWS shares. Noble Financial reissued a “buy” rating on shares of 1-800 FLOWERS.COM in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of 1-800 FLOWERS.COM from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Benchmark Co. reissued a “buy” rating and issued a $13.00 price objective on shares of 1-800 FLOWERS.COM in a research note on Wednesday, August 23rd. DA Davidson reissued a “neutral” rating and issued a $9.00 price objective (down previously from $11.00) on shares of 1-800 FLOWERS.COM in a research note on Monday, August 28th. Finally, FBR & Co started coverage on shares of 1-800 FLOWERS.COM in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $13.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $12.17.
Shares of 1-800 FLOWERS.COM, Inc. (NASDAQ FLWS) traded down 0.267% during trading on Tuesday, reaching $9.325. 21,228 shares of the company were exchanged. The stock has a market capitalization of $604.99 million, a P/E ratio of 14.346 and a beta of 1.61. 1-800 FLOWERS.COM, Inc. has a 1-year low of $7.80 and a 1-year high of $11.40. The firm has a 50-day moving average price of $9.65 and a 200-day moving average price of $9.73.
1-800 FLOWERS.COM (NASDAQ:FLWS) last released its earnings results on Thursday, August 24th. The specialty retailer reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). The business had revenue of $239.50 million for the quarter, compared to analyst estimates of $245.38 million. 1-800 FLOWERS.COM had a return on equity of 10.76% and a net margin of 3.69%. 1-800 FLOWERS.COM’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. Equities research analysts predict that 1-800 FLOWERS.COM, Inc. will post $0.47 earnings per share for the current fiscal year.
1-800 FLOWERS.COM announced that its board has initiated a share buyback program on Wednesday, September 6th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the specialty retailer to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
About 1-800 FLOWERS.COM
1-800-FLOWERS.COM, Inc is a provider of gourmet food and floral gifts for all occasions. The Company offers gifts for every occasion, including fresh flowers and a selection of plants, gift baskets, gourmet foods, confections, candles, balloons and stuffed animals. The Company operates through three business segments: Consumer Floral, Gourmet Food and Gift Baskets, and BloomNet Wire Service.
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