13,140 Shares in Fossil Group Inc (FOSL) Acquired by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan purchased a new position in Fossil Group Inc (NASDAQ:FOSL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,140 shares of the accessories brand company’s stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in FOSL. State of Alaska Department of Revenue increased its holdings in shares of Fossil Group by 4.9% in the 4th quarter. State of Alaska Department of Revenue now owns 15,164 shares of the accessories brand company’s stock worth $238,000 after buying an additional 709 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of Fossil Group by 1.9% in the 4th quarter. Synovus Financial Corp now owns 43,877 shares of the accessories brand company’s stock worth $690,000 after buying an additional 827 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Fossil Group by 9.3% in the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock worth $174,000 after buying an additional 943 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Fossil Group by 4.1% in the 4th quarter. Texas Permanent School Fund now owns 29,774 shares of the accessories brand company’s stock worth $468,000 after buying an additional 1,184 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in Fossil Group during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Shares of NASDAQ:FOSL opened at $13.11 on Wednesday. The stock has a market cap of $649.01 million, a P/E ratio of 34.32 and a beta of 0.19. Fossil Group Inc has a 12 month low of $12.75 and a 12 month high of $32.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 2.08.

Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.26). The firm had revenue of $786.90 million for the quarter, compared to the consensus estimate of $805.17 million. Fossil Group had a negative net margin of 0.14% and a positive return on equity of 3.86%. The business’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Fossil Group Inc will post 0.64 EPS for the current year.

Several brokerages recently commented on FOSL. Zacks Investment Research upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. ValuEngine upgraded shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $17.00 price target (down from $20.00) on shares of Fossil Group in a report on Friday, February 8th. Finally, Wells Fargo & Co cut their price target on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating on the stock in a report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Fossil Group currently has a consensus rating of “Hold” and an average target price of $20.00.

In other Fossil Group news, insider Gregory A. Mckelvey sold 249,940 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $3,659,121.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kosta N. Kartsotis sold 50,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

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About Fossil Group

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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Institutional Ownership by Quarter for Fossil Group (NASDAQ:FOSL)

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