California Public Employees Retirement System cut its holdings in Guess?, Inc. (NYSE:GES) by 33.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,473 shares of the company’s stock after selling 105,306 shares during the period. California Public Employees Retirement System owned approximately 0.26% of Guess? worth $4,440,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Guess? by 1.8% during the 1st quarter. BlackRock Inc. now owns 7,748,176 shares of the company’s stock worth $160,697,000 after purchasing an additional 138,822 shares during the period. Principal Financial Group Inc. boosted its position in Guess? by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 454,045 shares of the company’s stock worth $9,417,000 after purchasing an additional 5,421 shares during the period. Profund Advisors LLC purchased a new stake in Guess? during the 1st quarter worth $227,000. Element Capital Management LLC purchased a new stake in Guess? during the 1st quarter worth $222,000. Finally, Verition Fund Management LLC purchased a new stake in Guess? during the 1st quarter worth $743,000. Institutional investors and hedge funds own 70.79% of the company’s stock.
A number of analysts recently weighed in on GES shares. TheStreet raised shares of Guess? from a “c+” rating to a “b” rating in a research report on Thursday, August 30th. Zacks Investment Research raised shares of Guess? from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Wednesday, August 1st. Finally, Telsey Advisory Group upped their price objective on shares of Guess? from $26.00 to $28.00 and gave the company a “market perform” rating in a research report on Thursday, August 30th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Guess? currently has an average rating of “Buy” and an average price target of $22.80.
Guess? (NYSE:GES) last posted its quarterly earnings data on Wednesday, August 29th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The company had revenue of $645.87 million during the quarter, compared to analysts’ expectations of $650.61 million. Guess? had a net margin of 0.10% and a return on equity of 8.12%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. As a group, equities analysts expect that Guess?, Inc. will post 1.04 earnings per share for the current year.
In related news, Director Gianluca Bolla bought 2,832 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were acquired at an average price of $26.00 per share, for a total transaction of $73,632.00. Following the purchase, the director now owns 63,936 shares in the company, valued at approximately $1,662,336. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 31.30% of the company’s stock.
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Guess?, Inc designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. It operates through five segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing. The company's clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear, and intimate apparel.
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