Invesco Ltd. Cuts Position in Fossil Group, Inc. $FOSL

Invesco Ltd. lessened its holdings in Fossil Group, Inc. (NASDAQ:FOSL) by 22.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,860 shares of the accessories brand company’s stock after selling 81,484 shares during the period. Invesco Ltd. owned about 0.52% of Fossil Group worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Fossil Group by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 203,050 shares of the accessories brand company’s stock worth $339,000 after acquiring an additional 8,286 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Fossil Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 117,199 shares of the accessories brand company’s stock worth $196,000 after acquiring an additional 17,221 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Fossil Group in the fourth quarter worth approximately $29,000. Raymond James Financial Inc. acquired a new stake in shares of Fossil Group in the fourth quarter worth approximately $35,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Fossil Group by 1.2% in the fourth quarter. Ameriprise Financial Inc. now owns 2,358,189 shares of the accessories brand company’s stock worth $3,938,000 after acquiring an additional 27,906 shares during the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FOSL. Maxim Group began coverage on Fossil Group in a research note on Tuesday, July 1st. They issued a “buy” rating and a $5.00 price target on the stock. Wall Street Zen upgraded Fossil Group from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.00.

Fossil Group Price Performance

FOSL stock opened at $3.07 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The business has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $1.58. The firm has a market capitalization of $165.10 million, a PE ratio of -2.77 and a beta of 2.21. Fossil Group, Inc. has a 1 year low of $0.86 and a 1 year high of $3.58.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.The business had revenue of $220.40 million during the quarter, compared to analyst estimates of $198.04 million.

Fossil Group Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.