Municipal Employees Retirement System of Michigan boosted its stake in shares of Fox Factory Holding Corp (NASDAQ:FOXF) by 72.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,090 shares of the company’s stock after buying an additional 5,920 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Fox Factory were worth $607,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sei Investments Co. increased its holdings in Fox Factory by 1,003.2% during the 3rd quarter. Sei Investments Co. now owns 6,454 shares of the company’s stock worth $278,000 after purchasing an additional 5,869 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Fox Factory by 78.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,081 shares of the company’s stock valued at $822,000 after acquiring an additional 8,406 shares during the last quarter. Swiss National Bank increased its holdings in shares of Fox Factory by 3.0% in the 3rd quarter. Swiss National Bank now owns 59,200 shares of the company’s stock valued at $2,552,000 after acquiring an additional 1,700 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Fox Factory by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 304,170 shares of the company’s stock valued at $13,110,000 after acquiring an additional 19,136 shares during the last quarter. Finally, Cavalier Investments LLC purchased a new position in shares of Fox Factory in the 3rd quarter valued at about $496,000. 98.07% of the stock is currently owned by institutional investors.
In other Fox Factory news, SVP William H. Katherman sold 18,580 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $780,545.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.40% of the company’s stock.
Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. Fox Factory had a return on equity of 28.25% and a net margin of 10.76%. The firm had revenue of $127.40 million during the quarter, compared to the consensus estimate of $123.02 million. During the same period last year, the business posted $0.44 EPS. Fox Factory’s quarterly revenue was up 16.9% on a year-over-year basis. equities analysts predict that Fox Factory Holding Corp will post 1.53 earnings per share for the current fiscal year.
A number of research analysts have recently commented on FOXF shares. ValuEngine upgraded Fox Factory from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded Fox Factory from a “buy” rating to a “hold” rating in a report on Friday, October 20th. SunTrust Banks reiterated a “hold” rating and issued a $36.00 price objective on shares of Fox Factory in a report on Friday, October 20th. Bank of America upped their target price on Fox Factory from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Fox Factory in a research report on Wednesday, November 1st. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Fox Factory currently has an average rating of “Hold” and a consensus target price of $39.29.
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Fox Factory Profile
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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