CIBC World Markets Inc. Purchases Shares of 10,445 Zumiez Inc. (NASDAQ:ZUMZ)

CIBC World Markets Inc. acquired a new position in Zumiez Inc. (NASDAQ:ZUMZ) during the 1st quarter, HoldingsChannel reports. The firm acquired 10,445 shares of the apparel and footwear maker’s stock, valued at approximately $260,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Zumiez by 185.2% during the third quarter. JPMorgan Chase & Co. now owns 397,856 shares of the apparel and footwear maker’s stock worth $10,484,000 after purchasing an additional 258,363 shares during the period. Bank of Montreal Can lifted its holdings in Zumiez by 35.1% during the fourth quarter. Bank of Montreal Can now owns 21,400 shares of the apparel and footwear maker’s stock worth $410,000 after acquiring an additional 5,565 shares during the period. Arizona State Retirement System lifted its holdings in Zumiez by 6.2% during the fourth quarter. Arizona State Retirement System now owns 29,095 shares of the apparel and footwear maker’s stock worth $558,000 after acquiring an additional 1,701 shares during the period. Rhumbline Advisers lifted its holdings in Zumiez by 20.9% during the fourth quarter. Rhumbline Advisers now owns 54,346 shares of the apparel and footwear maker’s stock worth $1,042,000 after acquiring an additional 9,411 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in Zumiez in the fourth quarter worth $138,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.

Shares of ZUMZ stock opened at $22.22 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.28 and a quick ratio of 1.34. Zumiez Inc. has a 12-month low of $17.57 and a 12-month high of $32.70. The stock has a market cap of $571.50 million, a price-to-earnings ratio of 12.41, a PEG ratio of 0.86 and a beta of 1.41.

Zumiez (NASDAQ:ZUMZ) last issued its quarterly earnings results on Thursday, June 6th. The apparel and footwear maker reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Zumiez had a return on equity of 12.81% and a net margin of 4.93%. The firm had revenue of $212.90 million during the quarter, compared to analyst estimates of $205.96 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Zumiez Inc. will post 1.87 earnings per share for the current fiscal year.

In other Zumiez news, Director Scott Andrew Bailey sold 5,986 shares of Zumiez stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $25.94, for a total transaction of $155,276.84. Following the completion of the sale, the director now owns 3,189 shares of the company’s stock, valued at $82,722.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Troy R. Brown sold 20,324 shares of Zumiez stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $27.41, for a total value of $557,080.84. The disclosure for this sale can be found here. Insiders own 23.10% of the company’s stock.

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Zumiez from a “buy” rating to a “hold” rating in a research report on Saturday, April 13th. Pivotal Research restated a “hold” rating and set a $28.00 target price on shares of Zumiez in a research report on Monday, April 22nd. BidaskClub upgraded Zumiez from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wedbush cut Zumiez from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a research report on Thursday, May 9th. They noted that the move was a valuation call. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Zumiez presently has an average rating of “Hold” and an average price target of $23.57.

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About Zumiez

Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of September 1, 2018, the company operated 703 stores, including 610 stores in the United States, 50 stores in Canada, 36 stores in Europe, and 7 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.

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Want to see what other hedge funds are holding ZUMZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zumiez Inc. (NASDAQ:ZUMZ).

Institutional Ownership by Quarter for Zumiez (NASDAQ:ZUMZ)

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