Wells Fargo & Company MN Sells 73,418 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Wells Fargo & Company MN decreased its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,386 shares of the company’s stock after selling 73,418 shares during the period. Wells Fargo & Company MN owned 0.74% of Fox Factory worth $9,335,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FOXF. KBC Group NV lifted its position in Fox Factory by 80.4% in the 4th quarter. KBC Group NV now owns 2,484 shares of the company’s stock valued at $75,000 after acquiring an additional 1,107 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Fox Factory by 23.8% during the 3rd quarter. HighTower Advisors LLC now owns 5,880 shares of the company’s stock worth $243,000 after buying an additional 1,131 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Fox Factory during the fourth quarter worth $206,000. Diversify Wealth Management LLC boosted its stake in shares of Fox Factory by 10.1% in the fourth quarter. Diversify Wealth Management LLC now owns 7,443 shares of the company’s stock valued at $207,000 after buying an additional 680 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Fox Factory during the 4th quarter worth approximately $230,000.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FOXF shares. Stifel Nicolaus decreased their price target on shares of Fox Factory from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird lowered their target price on shares of Fox Factory from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Truist Financial dropped their target price on shares of Fox Factory from $40.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group lowered their price target on shares of Fox Factory from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fox Factory presently has a consensus rating of “Hold” and a consensus target price of $35.00.

Fox Factory Price Performance

Shares of FOXF stock opened at $19.25 on Thursday. The stock has a 50 day moving average price of $24.31 and a 200 day moving average price of $29.77. The firm has a market capitalization of $802.96 million, a P/E ratio of 74.04, a P/E/G ratio of 1.45 and a beta of 1.56. Fox Factory Holding Corp. has a 52-week low of $17.95 and a 52-week high of $54.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $352.84 million during the quarter, compared to the consensus estimate of $321.31 million. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. As a group, sell-side analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

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.