California Public Employees Retirement System Sells 3,403 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

California Public Employees Retirement System lessened its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,587 shares of the company’s stock after selling 3,403 shares during the period. California Public Employees Retirement System’s holdings in Fox Factory were worth $5,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FOXF. Bank of New York Mellon Corp raised its stake in shares of Fox Factory by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 440,251 shares of the company’s stock valued at $43,620,000 after acquiring an additional 4,607 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fox Factory by 26.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,065 shares of the company’s stock valued at $700,000 after acquiring an additional 1,485 shares in the last quarter. Strs Ohio raised its stake in Fox Factory by 10.5% in the third quarter. Strs Ohio now owns 4,200 shares of the company’s stock worth $416,000 after buying an additional 400 shares in the last quarter. Advisor Partners II LLC purchased a new stake in Fox Factory during the third quarter worth $224,000. Finally, Park Avenue Securities LLC bought a new stake in Fox Factory during the 3rd quarter valued at $302,000.

Fox Factory Stock Performance

Shares of Fox Factory stock opened at $43.52 on Friday. The company has a 50 day moving average price of $46.45 and a 200 day moving average price of $59.53. The firm has a market capitalization of $1.83 billion, a P/E ratio of 24.31, a PEG ratio of 3.32 and a beta of 1.68. The company has a quick ratio of 1.91, a current ratio of 3.70 and a debt-to-equity ratio of 0.61. Fox Factory Holding Corp. has a 52 week low of $37.98 and a 52 week high of $117.68.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. Fox Factory had a net margin of 5.41% and a return on equity of 10.50%. The business had revenue of $333.50 million during the quarter, compared to the consensus estimate of $327.58 million. During the same period in the previous year, the firm posted $1.20 earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. Sell-side analysts expect that Fox Factory Holding Corp. will post 2.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on FOXF shares. Roth Mkm reduced their price target on Fox Factory from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird decreased their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Friday. Truist Financial lowered their price target on shares of Fox Factory from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday. B. Riley reduced their price objective on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Stifel Nicolaus lowered their target price on shares of Fox Factory from $56.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.00.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.