Contrarius Investment Management Ltd decreased its position in Guess?, Inc. (NYSE:GES) by 33.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,974 shares of the company’s stock after selling 89,067 shares during the quarter. Contrarius Investment Management Ltd’s holdings in Guess? were worth $4,646,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GES. Bank of New York Mellon Corp grew its position in Guess? by 96.5% during the second quarter. Bank of New York Mellon Corp now owns 1,333,108 shares of the company’s stock worth $35,194,000 after buying an additional 654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Guess? by 60.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 727,643 shares of the company’s stock valued at $17,100,000 after acquiring an additional 274,889 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in shares of Guess? by 21.4% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 786,390 shares of the company’s stock valued at $20,761,000 after acquiring an additional 138,700 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Guess? by 391.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 152,731 shares of the company’s stock valued at $3,589,000 after acquiring an additional 121,659 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new position in Guess? during the 2nd quarter worth $3,041,000. 63.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GES traded up $0.71 during mid-day trading on Monday, reaching $22.90. The company had a trading volume of 18,144 shares, compared to its average volume of 794,852. The company has a current ratio of 1.77, a quick ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 8.63 and a beta of 2.25. The company’s 50-day moving average price is $22.58 and its 200-day moving average price is $25.26. Guess?, Inc. has a one year low of $11.16 and a one year high of $31.12.
Guess? announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Wednesday, September 8th were issued a dividend of $0.1125 per share. The ex-dividend date of this dividend was Tuesday, September 7th. This represents a $0.45 dividend on an annualized basis and a yield of 1.97%. Guess?’s payout ratio is -642.86%.
Several research firms have recently weighed in on GES. Zacks Investment Research lowered Guess? from a “strong-buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Wednesday, July 28th. Telsey Advisory Group cut their price target on Guess? from $33.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, August 26th.
Guess?, Inc engages in designing, marketing, distributing and licensing of contemporary apparel and accessories for men, women and children that reflect the American lifestyle and European fashion sensibilities. It operates through the following segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing.
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