The Manufacturers Life Insurance Company Acquires 1,331,480 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

The Manufacturers Life Insurance Company increased its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 6,413.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,352,242 shares of the company's stock after buying an additional 1,331,480 shares during the quarter. The Manufacturers Life Insurance Company owned 3.24% of Fox Factory worth $40,932,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FOXF. RWWM Inc. increased its holdings in Fox Factory by 174.0% in the 4th quarter. RWWM Inc. now owns 1,997,531 shares of the company's stock worth $60,465,000 after acquiring an additional 1,268,460 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Fox Factory by 17.1% during the 4th quarter. William Blair Investment Management LLC now owns 2,983,482 shares of the company's stock valued at $90,310,000 after purchasing an additional 434,998 shares during the period. Capital World Investors lifted its stake in shares of Fox Factory by 21.8% during the 4th quarter. Capital World Investors now owns 1,341,155 shares of the company's stock valued at $40,597,000 after buying an additional 240,416 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Fox Factory by 595.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 247,435 shares of the company's stock valued at $7,490,000 after buying an additional 211,864 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Fox Factory by 271.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 190,870 shares of the company's stock worth $7,921,000 after buying an additional 139,512 shares in the last quarter.

Analysts Set New Price Targets

Several analysts recently issued reports on FOXF shares. Jefferies Financial Group cut their target price on Fox Factory from $45.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Robert W. Baird cut their price objective on shares of Fox Factory from $32.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, April 4th. Stifel Nicolaus lowered their target price on shares of Fox Factory from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Truist Financial cut their target price on shares of Fox Factory from $40.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fox Factory has an average rating of "Hold" and a consensus target price of $35.00.

Fox Factory Price Performance

FOXF stock traded up $0.50 during trading on Friday, hitting $21.16. 485,575 shares of the company's stock traded hands, compared to its average volume of 607,442. The business has a fifty day simple moving average of $22.96 and a 200 day simple moving average of $28.07. Fox Factory Holding Corp. has a 52 week low of $17.95 and a 52 week high of $54.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.62 and a current ratio of 3.21. The stock has a market capitalization of $882.63 million, a price-to-earnings ratio of 81.39, a P/E/G ratio of 1.45 and a beta of 1.56.

Fox Factory (NASDAQ:FOXF - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Fox Factory had a return on equity of 5.23% and a net margin of 0.78%. The company had revenue of $352.84 million during the quarter, compared to analyst estimates of $321.31 million. As a group, research analysts expect that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

About Fox Factory

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.