Northern Trust Corp Cuts Holdings in Childrens Place Inc (PLCE)

Northern Trust Corp cut its holdings in shares of Childrens Place Inc (NASDAQ:PLCE) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 301,341 shares of the company’s stock after selling 8,391 shares during the period. Northern Trust Corp owned about 1.84% of Childrens Place worth $36,401,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PLCE. Profund Advisors LLC grew its stake in shares of Childrens Place by 30.8% during the first quarter. Profund Advisors LLC now owns 2,571 shares of the company’s stock valued at $348,000 after acquiring an additional 606 shares in the last quarter. Millennium Management LLC grew its stake in shares of Childrens Place by 742.8% during the first quarter. Millennium Management LLC now owns 65,128 shares of the company’s stock valued at $8,809,000 after acquiring an additional 57,400 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of Childrens Place by 40.6% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 9,000 shares of the company’s stock valued at $1,217,000 after acquiring an additional 2,600 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Childrens Place by 1.8% during the first quarter. Legal & General Group Plc now owns 36,084 shares of the company’s stock valued at $4,861,000 after acquiring an additional 629 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Childrens Place by 931.9% during the first quarter. Royal Bank of Canada now owns 8,245 shares of the company’s stock valued at $1,115,000 after acquiring an additional 7,446 shares in the last quarter.

Several analysts have recently weighed in on the company. BidaskClub upgraded Childrens Place from a “hold” rating to a “buy” rating in a research note on Friday, October 12th. Wedbush assumed coverage on Childrens Place in a research note on Thursday, July 12th. They set an “outperform” rating and a $150.00 target price for the company. ValuEngine downgraded Childrens Place from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Finally, Citigroup raised their target price on Childrens Place from $145.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $148.91.

In related news, insider Jane T. Elfers sold 100,000 shares of Childrens Place stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $134.93, for a total value of $13,493,000.00. Following the completion of the transaction, the insider now directly owns 141,491 shares in the company, valued at $19,091,380.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

NASDAQ:PLCE opened at $133.89 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 16.93, a PEG ratio of 2.05 and a beta of 0.42. Childrens Place Inc has a one year low of $99.90 and a one year high of $161.65.

Childrens Place (NASDAQ:PLCE) last posted its quarterly earnings results on Thursday, August 23rd. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. The business had revenue of $448.70 million during the quarter, compared to the consensus estimate of $427.89 million. Childrens Place had a return on equity of 33.17% and a net margin of 3.76%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Analysts anticipate that Childrens Place Inc will post 8.23 EPS for the current fiscal year.

Childrens Place Profile

The Children’s Place, Inc engages in the provision of apparel, accessories and footwear for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Place and Baby Place. The company was founded in 1969 and is headquartered in Secaucus, NJ.

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Institutional Ownership by Quarter for Childrens Place (NASDAQ:PLCE)

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