Putnam Investments LLC Decreases Stake in Vista Outdoor Inc. (NYSE:VSTO)

Putnam Investments LLC lowered its position in Vista Outdoor Inc. (NYSE:VSTO – Get Rating) by 72.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,585 shares of the company’s stock after selling 133,160 shares during the quarter. Putnam Investments LLC owned about 0.09% of Vista Outdoor worth $1,230,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Vista Outdoor in the 3rd quarter worth about $759,000. Marshall Wace LLP boosted its stake in Vista Outdoor by 1,576.9% in the 3rd quarter. Marshall Wace LLP now owns 163,247 shares of the company’s stock worth $3,970,000 after purchasing an additional 153,512 shares during the period. Federated Hermes Inc. boosted its stake in Vista Outdoor by 33.8% in the 3rd quarter. Federated Hermes Inc. now owns 8,060 shares of the company’s stock worth $196,000 after purchasing an additional 2,038 shares during the period. First Trust Advisors LP boosted its stake in Vista Outdoor by 1.6% in the 3rd quarter. First Trust Advisors LP now owns 138,505 shares of the company’s stock worth $3,368,000 after purchasing an additional 2,158 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Vista Outdoor by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 623,200 shares of the company’s stock worth $15,155,000 after purchasing an additional 14,402 shares during the period. Institutional investors own 85.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. B. Riley cut their target price on Vista Outdoor from $45.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Lake Street Capital dropped their price target on Vista Outdoor from $45.00 to $35.00 in a research report on Friday, February 3rd. Finally, StockNews.com upgraded Vista Outdoor from a “hold” rating to a “buy” rating in a research report on Thursday, March 2nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

Vista Outdoor Stock Performance

NYSE:VSTO opened at $26.95 on Tuesday. The business has a 50 day moving average of $27.57 and a 200 day moving average of $26.93. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 3.94 and a beta of 0.96. Vista Outdoor Inc. has a 1-year low of $22.97 and a 1-year high of $41.20. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.39 and a quick ratio of 0.99.

Vista Outdoor (NYSE:VSTO – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.21. The company had revenue of $754.80 million during the quarter, compared to the consensus estimate of $753.72 million. Vista Outdoor had a return on equity of 33.27% and a net margin of 12.63%. Vista Outdoor’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. On average, sell-side analysts predict that Vista Outdoor Inc. will post 6.21 earnings per share for the current fiscal year.

Vista Outdoor Company Profile

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Vista Outdoor, Inc engages in the design, manufacture, and marketing of consumer products in the outdoor sports and recreation markets. It operates through the following segments: Shooting Sports and Outdoor Products. The Shooting Sports segment is comprised of ammunition and hunting & shooting accessories product lines.