State Street Corp cut its stake in Fossil Group Inc. (NASDAQ:FOSL) by 25.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,149,591 shares of the company’s stock after selling 389,083 shares during the period. State Street Corp owned approximately 2.39% of Fossil Group worth $51,065,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vulcan Value Partners LLC increased its position in shares of Fossil Group by 21.7% in the fourth quarter. Vulcan Value Partners LLC now owns 10,559,173 shares of the company’s stock valued at $386,043,000 after buying an additional 1,885,889 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Fossil Group by 115.6% in the first quarter. BlackRock Fund Advisors now owns 1,388,760 shares of the company’s stock valued at $61,689,000 after buying an additional 744,537 shares in the last quarter. Norges Bank purchased a new position in shares of Fossil Group during the fourth quarter valued at $17,835,000. Epoch Investment Partners Inc. purchased a new position in shares of Fossil Group during the fourth quarter valued at $17,683,000. Finally, Bridgewater Associates LP increased its position in shares of Fossil Group by 322.3% in the fourth quarter. Bridgewater Associates LP now owns 460,655 shares of the company’s stock valued at $16,842,000 after buying an additional 351,567 shares in the last quarter.
Shares of Fossil Group Inc. (NASDAQ:FOSL) traded up 0.16% during trading on Thursday, hitting $31.28. 693,711 shares of the stock were exchanged. The company has a market cap of $1.50 billion and a price-to-earnings ratio of 8.02. The stock’s 50 day moving average price is $29.24 and its 200-day moving average price is $35.72. Fossil Group Inc. has a one year low of $26.03 and a one year high of $69.42.
Several research analysts recently weighed in on the stock. Vetr downgraded shares of Fossil Group from a “sell” rating to a “strong sell” rating and set a $39.50 target price for the company. in a report on Thursday, March 31st. Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. Pacific Crest reaffirmed an “equal weight” rating on shares of Fossil Group in a report on Tuesday, April 19th. Bank of America Corp. reaffirmed a “sell” rating and issued a $20.00 target price on shares of Fossil Group in a report on Wednesday, May 11th. Finally, Topeka Capital Markets dropped their price objective on shares of Fossil Group from $60.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, May 11th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.97.
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are 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.
