Goldman Sachs Group Inc. Decreases Holdings in Ethan Allen Interiors Inc. $ETD

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ethan Allen Interiors Inc. by 7.5%, now holding 267,386 shares worth approximately $7.4 million.
• Other institutional investors, including Rhumbline Advisers and Intech Investment Management, have increased their positions significantly, with Rhumbline lifting its stake by 78%.
• Ethan Allen Interiors recently reported a quarterly earnings per share of $0.49, exceeding expectations, although its revenue was down 4.9% year-over-year.

Goldman Sachs Group Inc. decreased its holdings in shares of Ethan Allen Interiors Inc. (NYSE:ETD - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 267,386 shares of the company's stock after selling 21,539 shares during the quarter. Goldman Sachs Group Inc. owned 1.05% of Ethan Allen Interiors worth $7,407,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Ethan Allen Interiors by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,680,620 shares of the company's stock valued at $46,553,000 after buying an additional 13,822 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Ethan Allen Interiors by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 902,260 shares of the company's stock valued at $24,993,000 after buying an additional 64,565 shares during the period. American Century Companies Inc. increased its stake in shares of Ethan Allen Interiors by 9.2% in the first quarter. American Century Companies Inc. now owns 792,940 shares of the company's stock valued at $21,964,000 after buying an additional 66,727 shares during the period. LSV Asset Management increased its stake in shares of Ethan Allen Interiors by 9.7% in the first quarter. LSV Asset Management now owns 585,200 shares of the company's stock valued at $16,210,000 after buying an additional 51,700 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Ethan Allen Interiors by 6.3% in the fourth quarter. Northern Trust Corp now owns 401,986 shares of the company's stock valued at $11,300,000 after buying an additional 23,982 shares during the period. Institutional investors and hedge funds own 83.80% of the company's stock.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reissued a "market perform" rating and set a $30.00 target price on shares of Ethan Allen Interiors in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Ethan Allen Interiors presently has an average rating of "Hold" and a consensus target price of $30.00.

Insider Activity

In related news, CEO M Farooq Kathwari sold 15,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $29.37, for a total value of $440,550.00. Following the transaction, the chief executive officer directly owned 1,598,652 shares in the company, valued at $46,952,409.24. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.48% of the stock is currently owned by corporate insiders.

Ethan Allen Interiors Stock Performance

Shares of Ethan Allen Interiors stock traded down $0.51 on Friday, reaching $29.31. 68,681 shares of the company's stock were exchanged, compared to its average volume of 290,627. The company has a market capitalization of $745.23 million, a P/E ratio of 14.58 and a beta of 1.13. Ethan Allen Interiors Inc. has a 52 week low of $24.55 and a 52 week high of $32.61. The firm's 50-day moving average is $29.54 and its two-hundred day moving average is $28.09.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. The firm had revenue of $160.36 million for the quarter, compared to analysts' expectations of $152.20 million. Ethan Allen Interiors had a return on equity of 10.92% and a net margin of 8.39%.The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. On average, analysts expect that Ethan Allen Interiors Inc. will post 2.32 EPS for the current fiscal year.

Ethan Allen Interiors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, August 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Wednesday, August 13th. Ethan Allen Interiors's dividend payout ratio (DPR) is currently 77.61%.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.