Principal Financial Group Inc. Cuts Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

Principal Financial Group Inc. cut its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 217,005 shares of the company’s stock after selling 4,198 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of Fox Factory worth $9,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Fox Factory by 25,005.1% during the second quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after acquiring an additional 1,578,822 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Fox Factory in the second quarter worth $53,294,000. Vanguard Group Inc. lifted its holdings in shares of Fox Factory by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Fox Factory by 25.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 674,051 shares of the company’s stock valued at $32,483,000 after purchasing an additional 135,542 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Fox Factory by 173.7% during the first quarter. Jane Street Group LLC now owns 181,873 shares of the company’s stock valued at $9,470,000 after buying an additional 115,432 shares during the last quarter.

Fox Factory Trading Up 0.4 %

Shares of Fox Factory stock opened at $32.29 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.21 and a quick ratio of 1.62. The stock has a market capitalization of $1.35 billion, a PE ratio of 124.20, a P/E/G ratio of 2.62 and a beta of 1.65. Fox Factory Holding Corp. has a 1-year low of $31.19 and a 1-year high of $70.13. The company’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $42.80.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.07). Fox Factory had a net margin of 0.78% and a return on equity of 5.23%. The company had revenue of $359.10 million for the quarter, compared to the consensus estimate of $366.86 million. During the same period in the prior year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FOXF shares. Roth Mkm lowered their target price on shares of Fox Factory from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Bank of America lowered their price objective on shares of Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. B. Riley cut their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Robert W. Baird decreased their target price on shares of Fox Factory from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial dropped their price target on Fox Factory from $54.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

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.