Mason Street Advisors LLC reduced its stake in shares of Fossil Group, Inc. (NASDAQ:FOSL) by 49.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,820 shares of the accessories brand company’s stock after selling 9,724 shares during the period. Mason Street Advisors LLC’s holdings in Fossil Group were worth $171,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in Fossil Group during the fourth quarter worth approximately $1,518,000. State Board of Administration of Florida Retirement System increased its stake in 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 worth $660,000 after buying an additional 3,198 shares during the last quarter. Comerica Bank increased its stake in Fossil Group by 6.4% in the fourth quarter. Comerica Bank now owns 31,553 shares of the accessories brand company’s stock worth $794,000 after buying an additional 1,906 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in 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 worth $24,210,000 after buying an additional 332,793 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Fossil Group during the fourth quarter worth $255,000.
Fossil Group, Inc. (FOSL) opened at 10.40 on Tuesday. The company has a market cap of $504.03 million, a price-to-earnings ratio of 20.39 and a beta of 0.71. Fossil Group, Inc. has a 1-year low of $8.98 and a 1-year high of $36.87. The firm’s 50-day moving average price is $10.94 and its 200-day moving average price is $18.51.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by $0.14. The firm had revenue of $582 million for the quarter, compared to analysts’ expectations of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. Equities research analysts forecast that Fossil Group, Inc. will post $0.84 EPS for the current fiscal year.
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A number of research firms recently commented on FOSL. ValuEngine upgraded Fossil Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday. Piper Jaffray Companies restated a “hold” rating and issued a $15.00 price target on shares of Fossil Group in a report on Friday. Cowen and Company lowered their price target on Fossil Group from $15.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 10th. Finally, Telsey Advisory Group lowered their price target on Fossil Group from $23.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.89.
In other Fossil Group news, Chairman Kosta N. Kartsotis sold 520,281 shares of Fossil Group stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total value of $5,572,209.51. Following the sale, the chairman now directly owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now owns 4,183,047 shares in the company, valued at $47,226,600.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,220,281 shares of company stock worth $23,790,210. 12.80% of the stock is currently owned by insiders.
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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