113,647 Shares in Ermenegildo Zegna N.V. $ZGN Acquired by RFG Advisory LLC

Key Points

• RFG Advisory LLC bought a new stake in Ermenegildo Zegna during the fourth quarter, purchasing 113,647 shares valued at about $1.165 million.
• Other institutional investors also increased or initiated positions, with firms like Millennium Management and Geode Capital Management making notable moves. Institutional ownership now stands at 12.91% of the company.
• Analysts currently have a Moderate Buy consensus on ZGN, with an average target price of $12.26, though the company recently missed quarterly EPS and revenue estimates.

RFG Advisory LLC purchased a new position in Ermenegildo Zegna N.V. (NYSE:ZGN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 113,647 shares of the company's stock, valued at approximately $1,165,000.

A number of other hedge funds also recently modified their holdings of ZGN. Millennium Management LLC raised its holdings in shares of Ermenegildo Zegna by 182.8% in the 1st quarter. Millennium Management LLC now owns 1,149,055 shares of the company's stock worth $8,503,000 after purchasing an additional 742,680 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Ermenegildo Zegna by 22.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company's stock worth $995,000 after purchasing an additional 24,862 shares during the period. Jane Street Group LLC bought a new stake in shares of Ermenegildo Zegna in the 1st quarter worth approximately $1,161,000. Geode Capital Management LLC bought a new stake in Ermenegildo Zegna during the 2nd quarter valued at $6,245,000. Finally, JPMorgan Chase & Co. raised its holdings in Ermenegildo Zegna by 59,691.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company's stock valued at $250,000 after acquiring an additional 29,249 shares during the period. Institutional investors own 12.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ZGN. UBS Group reissued a "buy" rating and set a $14.50 target price on shares of Ermenegildo Zegna in a report on Friday, May 1st. Bank of America reissued a "neutral" rating and set a $11.20 target price (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. TD Cowen boosted their target price on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the company a "hold" rating in a report on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Ermenegildo Zegna in a report on Monday, April 20th. Finally, Wall Street Zen raised shares of Ermenegildo Zegna from a "hold" rating to a "buy" rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Ermenegildo Zegna presently has an average rating of "Moderate Buy" and a consensus target price of $12.26.

Ermenegildo Zegna Price Performance

ZGN opened at $13.21 on Friday. The company has a fifty day moving average price of $11.00 and a 200-day moving average price of $10.56. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 1.59. Ermenegildo Zegna N.V. has a one year low of $7.61 and a one year high of $13.38.

Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last released its quarterly earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analysts' expectations of $1.17 billion. Sell-side analysts anticipate that Ermenegildo Zegna N.V. will post 0.46 EPS for the current year.

Ermenegildo Zegna Cuts Dividend

The company also recently declared an annual dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Monday, July 6th will be given a dividend of $0.12 per share. This represents a dividend yield of 99.0%. The ex-dividend date is Monday, July 6th.

Ermenegildo Zegna Company Profile

Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.

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