Fox Run Management L.L.C. Buys New Stake in Fossil Group, Inc. (NASDAQ:FOSL)

Fox Run Management L.L.C. bought a new stake in Fossil Group, Inc. (NASDAQ:FOSL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,000 shares of the accessories brand company’s stock, valued at approximately $373,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FOSL. BlackRock Inc. increased its position in shares of Fossil Group by 19,301.2% in the first quarter. BlackRock Inc. now owns 5,209,210 shares of the accessories brand company’s stock valued at $90,900,000 after buying an additional 5,182,360 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fossil Group by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,644,137 shares of the accessories brand company’s stock valued at $63,591,000 after buying an additional 462,851 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Fossil Group by 86.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,746,955 shares of the accessories brand company’s stock valued at $30,484,000 after buying an additional 810,769 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Fossil Group by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 1,277,667 shares of the accessories brand company’s stock valued at $33,040,000 after buying an additional 88,087 shares during the last quarter. Finally, C Partners Holding GmbH acquired a new position in shares of Fossil Group during the first quarter valued at approximately $11,652,000.

Shares of Fossil Group, Inc. (NASDAQ:FOSL) opened at 10.21 on Wednesday. The company has a market cap of $494.82 million, a PE ratio of 20.02 and a beta of 0.71. Fossil Group, Inc. has a 52-week low of $8.98 and a 52-week high of $36.87. The company has a 50 day moving average of $10.16 and a 200-day moving average of $16.75.

Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by $0.14. The firm had revenue of $582 million during the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. Fossil Group’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. Analysts forecast that Fossil Group, Inc. will post $0.84 EPS for the current fiscal year.

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FOSL has been the topic of several recent analyst reports. Cowen and Company reduced their target price on Fossil Group from $15.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday, May 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $15.00 target price on shares of Fossil Group in a report on Friday, July 14th. Zacks Investment Research raised Fossil Group from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. ValuEngine raised Fossil Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, BidaskClub raised Fossil Group from a “sell” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.89.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of Fossil Group stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total value of $12,136,750.00. Following the completion of the sale, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of Fossil Group stock in a transaction on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the sale, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,220,281 shares of company stock worth $23,790,210. 12.80% of the stock is owned by company insiders.

About Fossil Group

Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.

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