Goldman Sachs Group Inc. Has $6.64 Million Stock Position in Smith & Wesson Brands, Inc. $SWBI

Key Points

• Goldman Sachs Group Inc. increased its stake in Smith & Wesson Brands by 41.4%, acquiring an additional 208,739 shares and holding 1.62% of the company valued at approximately $6.64 million.
• Smith & Wesson Brands has reported a quarterly earnings beat, with earnings of ($0.08) per share exceeding expectations, while also announcing a $0.13 per share dividend with a yield of 5.6%.
• Multiple hedge funds adjusted their positions in Smith & Wesson, with 59.33% of the stock owned by institutional investors, indicating significant institutional interest in the company.

Goldman Sachs Group Inc. grew its holdings in Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) by 41.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 712,708 shares of the company's stock after acquiring an additional 208,739 shares during the period. Goldman Sachs Group Inc. owned 1.62% of Smith & Wesson Brands worth $6,642,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Financial Harvest LLC bought a new stake in shares of Smith & Wesson Brands during the 1st quarter worth $31,000. PNC Financial Services Group Inc. boosted its holdings in shares of Smith & Wesson Brands by 162.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,320 shares of the company's stock worth $40,000 after buying an additional 2,672 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of Smith & Wesson Brands during the 4th quarter worth $47,000. Byrne Asset Management LLC boosted its holdings in shares of Smith & Wesson Brands by 145.0% during the 1st quarter. Byrne Asset Management LLC now owns 5,391 shares of the company's stock worth $50,000 after buying an additional 3,191 shares during the period. Finally, Forum Financial Management LP bought a new stake in shares of Smith & Wesson Brands during the 1st quarter worth $106,000. 59.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research raised shares of Smith & Wesson Brands from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Wall Street Zen raised shares of Smith & Wesson Brands from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Lake Street Capital decreased their price objective on shares of Smith & Wesson Brands from $12.50 to $11.00 and set a "buy" rating for the company in a report on Monday, June 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.00.

Smith & Wesson Brands Trading Up 1.0%

Shares of NASDAQ SWBI traded up $0.10 during mid-day trading on Friday, hitting $9.59. The company's stock had a trading volume of 320,324 shares, compared to its average volume of 686,205. The stock has a market cap of $425.02 million, a price-to-earnings ratio of 39.90 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.21 and a quick ratio of 1.37. Smith & Wesson Brands, Inc. has a one year low of $7.73 and a one year high of $14.20. The company's fifty day simple moving average is $8.34 and its 200-day simple moving average is $9.09.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last issued its earnings results on Thursday, September 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.04. Smith & Wesson Brands had a net margin of 2.34% and a return on equity of 3.10%. The company had revenue of $85.08 million for the quarter, compared to analyst estimates of $79.23 million. During the same quarter last year, the firm earned ($0.02) EPS. The company's revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that Smith & Wesson Brands, Inc. will post 0.47 earnings per share for the current fiscal year.

Smith & Wesson Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 18th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.52 annualized dividend and a yield of 5.4%. Smith & Wesson Brands's dividend payout ratio (DPR) is presently 216.67%.

Smith & Wesson Brands Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm's brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.