FirstCash Holdings, Inc. $FCFS Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. holds a $61.75 million position in FirstCash Holdings, Inc., owning 1.16% of the company after a 1.3% reduction in shares during the first quarter.
• FirstCash recently declared a quarterly dividend of $0.42, an increase from the previous $0.38, with a dividend yield of 1.2%.
• In its latest earnings report, FirstCash reported $1.79 earnings per share, exceeding expectations and indicating a year-over-year growth in revenue.

Charles Schwab Investment Management Inc. reduced its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 1.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 513,226 shares of the company's stock after selling 6,719 shares during the period. Charles Schwab Investment Management Inc. owned about 1.16% of FirstCash worth $61,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in shares of FirstCash by 15.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,317 shares of the company's stock worth $399,000 after purchasing an additional 444 shares during the last quarter. US Bancorp DE grew its stake in FirstCash by 15.2% in the first quarter. US Bancorp DE now owns 9,845 shares of the company's stock worth $1,185,000 after purchasing an additional 1,300 shares in the last quarter. Nicolet Advisory Services LLC purchased a new position in shares of FirstCash during the first quarter valued at $232,000. Natixis Advisors LLC lifted its stake in FirstCash by 20.7% in the first quarter. Natixis Advisors LLC now owns 211,538 shares of the company's stock worth $25,452,000 after acquiring an additional 36,233 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in FirstCash during the 1st quarter valued at about $357,000. 80.30% of the stock is owned by institutional investors.

Insider Activity

In other FirstCash news, Director James H. Graves sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $134.56, for a total transaction of $807,360.00. Following the completion of the transaction, the director directly owned 15,846 shares of the company's stock, valued at approximately $2,132,237.76. This trade represents a 27.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Howard F. Hambleton sold 3,900 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $130.93, for a total transaction of $510,627.00. Following the completion of the sale, the insider directly owned 32,481 shares in the company, valued at $4,252,737.33. This trade represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.77% of the stock is currently owned by insiders.

FirstCash Stock Up 1.3%

Shares of FirstCash stock traded up $1.76 on Monday, reaching $138.28. The stock had a trading volume of 105,145 shares, compared to its average volume of 304,810. FirstCash Holdings, Inc. has a 1 year low of $100.24 and a 1 year high of $141.56. The company has a 50 day moving average price of $132.40 and a 200 day moving average price of $125.19. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $6.14 billion, a P/E ratio of 21.24 and a beta of 0.68.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.13. FirstCash had a return on equity of 16.63% and a net margin of 8.61%. The company had revenue of $830.62 million for the quarter, compared to analyst estimates of $820.42 million. During the same period in the prior year, the company posted $1.37 EPS. The firm's quarterly revenue was up .0% compared to the same quarter last year. As a group, equities research analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 15th. This is a boost from FirstCash's previous quarterly dividend of $0.38. FirstCash's dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analyst Weigh In

FCFS has been the subject of several research reports. Capital One Financial set a $160.00 price target on shares of FirstCash in a research report on Tuesday, August 5th. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Cowen reiterated a "buy" rating on shares of FirstCash in a report on Monday.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.