New York State Teachers Retirement System Acquires 3,632 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• The New York State Teachers Retirement System increased its holdings in FirstCash Holdings, Inc. by 7.6%, acquiring an additional 3,632 shares in the second quarter, bringing its total ownership to 51,425 shares valued at $6,950,000.
• CEO Rick L. Wessel sold 69,024 shares of the company’s stock, resulting in a 6.89% decrease in his ownership, while corporate insiders collectively sold 119,000 shares worth approximately $16.69 million over the past three months.
• The company recently announced an increase in its quarterly dividend to $0.42 per share, raising its annualized dividend to $1.68 with a yield of 1.1% and a dividend payout ratio of 25.81%.

New York State Teachers Retirement System increased its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 7.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 51,425 shares of the company's stock after purchasing an additional 3,632 shares during the period. New York State Teachers Retirement System owned 0.12% of FirstCash worth $6,950,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CX Institutional boosted its holdings in shares of FirstCash by 24.7% during the second quarter. CX Institutional now owns 434 shares of the company's stock worth $59,000 after acquiring an additional 86 shares during the period. Xponance Inc. boosted its holdings in shares of FirstCash by 1.6% during the first quarter. Xponance Inc. now owns 5,552 shares of the company's stock worth $668,000 after acquiring an additional 87 shares during the period. Sendero Wealth Management LLC boosted its holdings in shares of FirstCash by 1.2% during the second quarter. Sendero Wealth Management LLC now owns 7,580 shares of the company's stock worth $1,024,000 after acquiring an additional 88 shares during the period. MBM Wealth Consultants LLC boosted its holdings in shares of FirstCash by 1.6% during the first quarter. MBM Wealth Consultants LLC now owns 5,757 shares of the company's stock worth $693,000 after acquiring an additional 90 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of FirstCash by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,315 shares of the company's stock worth $1,121,000 after acquiring an additional 100 shares during the period. Institutional investors own 80.30% of the company's stock.

Insider Buying and Selling at FirstCash

In other FirstCash news, CEO Rick L. Wessel sold 69,024 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $138.49, for a total transaction of $9,559,133.76. Following the completion of the transaction, the chief executive officer directly owned 932,958 shares in the company, valued at $129,205,353.42. The trade was a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Graves sold 6,000 shares of the business'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 transaction, the director owned 15,846 shares of the company's stock, valued at approximately $2,132,237.76. This represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $16,690,723 over the last three months. Corporate insiders own 14.77% of the company's stock.

Wall Street Analyst Weigh In

FCFS has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded FirstCash to a "strong-buy" rating in a report on Monday, August 18th. Cowen restated a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Loop Capital cut FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price objective for the company. in a report on Friday, September 5th. Canaccord Genuity Group restated a "buy" rating and set a $200.00 price objective on shares of FirstCash in a report on Monday, October 6th. Finally, Capital One Financial set a $160.00 price target on FirstCash in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $154.40.

FirstCash Trading Down 0.7%

Shares of NASDAQ:FCFS opened at $157.44 on Monday. The company has a market capitalization of $6.99 billion, a P/E ratio of 24.18 and a beta of 0.69. FirstCash Holdings, Inc. has a 1 year low of $100.24 and a 1 year high of $163.01. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. The business's 50 day simple moving average is $148.38 and its 200 day simple moving average is $135.83.

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

FirstCash Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.42 per share. This is an increase from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, August 15th. FirstCash's dividend payout ratio (DPR) is presently 25.81%.

FirstCash Company 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.

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