FirstCash Holdings, Inc. (NASDAQ:FCFS) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc reduced its ownership of FirstCash Holdings by 74% in Q1, selling 3,514 shares, and now holds 1,234 shares valued at $148,000.
• FirstCash announced an increase in its quarterly dividend to $0.42 per share from the previous $0.38, with an ex-dividend date set for August 15th.
• The stock price of FirstCash fell 1.1% to $133.28, with the company reporting revenues exceeding analyst expectations at $830.62 million for the last quarter.

Vestcor Inc cut its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 74.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,234 shares of the company's stock after selling 3,514 shares during the period. Vestcor Inc's holdings in FirstCash were worth $148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Earnest Partners LLC boosted its stake in FirstCash by 2.3% during the fourth quarter. Earnest Partners LLC now owns 2,338,671 shares of the company's stock valued at $242,286,000 after buying an additional 52,409 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of FirstCash by 76.1% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,303,533 shares of the company's stock valued at $135,046,000 after purchasing an additional 563,265 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of FirstCash by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,043,531 shares of the company's stock valued at $108,107,000 after purchasing an additional 9,264 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of FirstCash by 14.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 888,834 shares of the company's stock valued at $106,945,000 after purchasing an additional 112,349 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of FirstCash by 14.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 640,521 shares of the company's stock valued at $77,067,000 after purchasing an additional 79,930 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Capital One Financial set a $160.00 price target on FirstCash in a research note on Tuesday. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

Insider Transactions at FirstCash

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

FirstCash Stock Up 1.7%

Shares of NASDAQ:FCFS traded up $2.29 on Wednesday, reaching $135.57. The company had a trading volume of 225,024 shares, compared to its average volume of 307,983. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $138.42. The firm's 50 day simple moving average is $130.72 and its 200-day simple moving average is $123.75. The firm has a market capitalization of $6.02 billion, a PE ratio of 20.82 and a beta of 0.68. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share for the quarter, topping 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 firm had revenue of $830.62 million for the quarter, compared to the consensus estimate of $820.42 million. During the same period in the previous year, the business earned $1.37 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal 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 given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.2%. This is an increase from FirstCash's previous quarterly dividend of $0.38. FirstCash's payout ratio is presently 23.35%.

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.