Bank of New York Mellon Corp reduced its position in Guess?, Inc. (NYSE:GES – Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 674,084 shares of the company’s stock after selling 11,634 shares during the period. Bank of New York Mellon Corp owned about 1.26% of Guess? worth $13,111,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GES. Bank of Montreal Can acquired a new position in shares of Guess? in the 2nd quarter valued at $15,686,000. LSV Asset Management boosted its holdings in shares of Guess? by 28.6% in the 2nd quarter. LSV Asset Management now owns 556,300 shares of the company’s stock valued at $10,820,000 after purchasing an additional 123,600 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Guess? in the 2nd quarter valued at $294,000. Louisiana State Employees Retirement System boosted its holdings in shares of Guess? by 10.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the company’s stock valued at $305,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Guess? in the 2nd quarter valued at $1,313,000. 61.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GES has been the topic of a number of research analyst reports. TheStreet upgraded shares of Guess? from a “c+” rating to a “b” rating in a report on Wednesday, August 23rd. B. Riley began coverage on shares of Guess? in a report on Monday, September 11th. They set a “buy” rating and a $31.00 target price on the stock. Telsey Advisory Group restated a “market perform” rating and set a $23.00 target price on shares of Guess? in a report on Thursday, August 24th. Finally, StockNews.com began coverage on shares of Guess? in a report on Thursday, October 5th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Guess? presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.33.
Guess? Stock Performance
NYSE:GES opened at $24.01 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 0.82. The firm has a 50-day moving average of $21.99 and a two-hundred day moving average of $20.74. The stock has a market cap of $1.29 billion, a P/E ratio of 11.27 and a beta of 1.91. Guess?, Inc. has a 1-year low of $17.21 and a 1-year high of $24.84.
Guess? (NYSE:GES – Get Free Report) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. The company had revenue of $664.51 million during the quarter, compared to analysts’ expectations of $640.50 million. Guess? had a net margin of 5.40% and a return on equity of 31.02%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts expect that Guess?, Inc. will post 3.01 earnings per share for the current fiscal year.
Guess? Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Wednesday, September 6th were given a $0.30 dividend. The ex-dividend date was Tuesday, September 5th. This represents a $1.20 dividend on an annualized basis and a yield of 5.00%. Guess?’s payout ratio is currently 56.34%.
Insider Buying and Selling at Guess?
In other news, Director Deborah Weinswig sold 6,896 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $23.03, for a total value of $158,814.88. Following the sale, the director now owns 19,173 shares in the company, valued at approximately $441,554.19. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 41.00% of the stock is currently owned by corporate insiders.
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, activewear, knitwear, and intimate apparel.
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