Ermenegildo Zegna (NYSE:ZGN) Shares Down 2.5% - Should You Sell?

Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report)'s stock price dropped 2.5% during trading on Friday . The stock traded as low as $8.87 and last traded at $8.89. Approximately 861,902 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 868,971 shares. The stock had previously closed at $9.12.

Ermenegildo Zegna Trading Down 1.6%

The company's 50-day moving average is $8.67 and its 200 day moving average is $8.20. The firm has a market cap of $3.53 billion, a PE ratio of 16.34 and a beta of 0.73. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.20.

Ermenegildo Zegna Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, July 29th. Stockholders of record on Monday, July 7th will be paid a dividend of $0.1361 per share. This is a positive change from Ermenegildo Zegna's previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, July 7th. This represents a dividend yield of 1.5%. Ermenegildo Zegna's dividend payout ratio is 22.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in Ermenegildo Zegna by 10.0% in the 4th quarter. Invesco Ltd. now owns 6,386,184 shares of the company's stock worth $52,750,000 after purchasing an additional 581,696 shares during the last quarter. Public Investment Fund lifted its holdings in Ermenegildo Zegna by 57.3% during the 4th quarter. Public Investment Fund now owns 5,834,324 shares of the company's stock valued at $48,192,000 after purchasing an additional 2,124,128 shares during the last quarter. FIL Ltd increased its position in Ermenegildo Zegna by 18.0% in the 4th quarter. FIL Ltd now owns 1,672,992 shares of the company's stock valued at $13,819,000 after acquiring an additional 255,079 shares in the last quarter. Millennium Management LLC raised its stake in shares of Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock worth $8,503,000 after buying an additional 742,680 shares during the last quarter. Finally, Tabor Asset Management LP raised its stake in shares of Ermenegildo Zegna by 362.0% during the fourth quarter. Tabor Asset Management LP now owns 959,643 shares of the company's stock worth $7,927,000 after buying an additional 751,930 shares during the last quarter. 12.91% of the stock is currently owned by institutional investors and hedge funds.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna N.V., together with its subsidiaries, designs, manufactures, markets, and distributes luxury menswear, footwear, leather goods, and other accessories under the Zegna and the Thom Browne brands. It provides luxury leisurewear for men; formal suits, tuxedos, shirts, blazers, formal overcoats, and accessories; leather accessories comprising shoes, bags, belts, and small leather accessories; and fragrances.