Invesco Ltd. Lowers Stock Holdings in Fossil Group, Inc. $FOSL

Key Points

• Invesco Ltd. reduced its stake in Fossil Group, Inc. by 22.7%, now holding 276,860 shares worth approximately $318,000, according to its latest 13F filing.
• Several institutional investors, including Dimensional Fund Advisors LP and Northern Trust Corp, have made adjustments to their positions, indicating increased activity around Fossil Group's stock.
• Brokerages have begun coverage on Fossil Group, with Maxim Group issuing a "buy" rating and a price target of $5.00, while the stock has an average rating of "Buy" with similar target projections.

Invesco Ltd. lowered its stake in Fossil Group, Inc. (NASDAQ:FOSL - Free Report) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,860 shares of the accessories brand company's stock after selling 81,484 shares during the period. Invesco Ltd. owned 0.52% of Fossil Group worth $318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FOSL. Dimensional Fund Advisors LP increased its position in shares of Fossil Group by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 203,050 shares of the accessories brand company's stock valued at $339,000 after acquiring an additional 8,286 shares during the period. Northern Trust Corp grew its stake in Fossil Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 117,199 shares of the accessories brand company's stock valued at $196,000 after purchasing an additional 17,221 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Fossil Group during the 4th quarter valued at about $29,000. Raymond James Financial Inc. acquired a new position in shares of Fossil Group in the fourth quarter valued at about $35,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Fossil Group by 1.2% in the fourth quarter. Ameriprise Financial Inc. now owns 2,358,189 shares of the accessories brand company's stock worth $3,938,000 after purchasing an additional 27,906 shares during the last quarter. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Fossil Group Stock Performance

Shares of NASDAQ FOSL traded up $0.15 during midday trading on Thursday, reaching $3.10. 573,306 shares of the stock were exchanged, compared to its average volume of 1,285,443. The company has a quick ratio of 1.17, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The firm has a market cap of $166.72 million, a price-to-earnings ratio of -2.79 and a beta of 2.21. The firm has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $1.62. Fossil Group, Inc. has a twelve month low of $0.86 and a twelve month high of $3.58.

Fossil Group (NASDAQ:FOSL - Get Free Report) last posted its earnings results on Wednesday, August 13th. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. The firm had revenue of $220.40 million during the quarter, compared to analysts' expectations of $198.04 million. Fossil Group had a negative net margin of 5.49% and a negative return on equity of 12.07%.

Analysts Set New Price Targets

FOSL has been the topic of a number of recent research reports. Maxim Group initiated coverage on Fossil Group in a research report on Tuesday, July 1st. They issued a "buy" rating and a $5.00 target price on the stock. Wall Street Zen upgraded shares of Fossil Group from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $5.00.

Fossil Group Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.