Luxottica Group SpA (NYSE:LUX) Stake Cut by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in Luxottica Group SpA (NYSE:LUX) by 3.5% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,133 shares of the company’s stock after selling 187 shares during the period. Ameriprise Financial Inc.’s holdings in Luxottica Group SpA were worth $282,000 at the end of the most recent quarter.

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A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. World Asset Management Inc boosted its position in Luxottica Group SpA by 1.4% in the first quarter. World Asset Management Inc now owns 30,171 shares of the company’s stock valued at $1,661,000 after buying an additional 403 shares during the period. Comerica Bank boosted its position in Luxottica Group SpA by 2.0% in the first quarter. Comerica Bank now owns 31,292 shares of the company’s stock valued at $1,824,000 after buying an additional 607 shares during the period. Bank of New York Mellon Corp boosted its position in Luxottica Group SpA by 51.8% in the first quarter. Bank of New York Mellon Corp now owns 11,205 shares of the company’s stock valued at $618,000 after buying an additional 3,826 shares during the period. US Bancorp DE boosted its position in Luxottica Group SpA by 4.0% in the first quarter. US Bancorp DE now owns 3,095 shares of the company’s stock valued at $170,000 after buying an additional 120 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Luxottica Group SpA by 58.5% in the first quarter. Eqis Capital Management Inc. now owns 7,518 shares of the company’s stock valued at $414,000 after buying an additional 2,776 shares during the period. Hedge funds and other institutional investors own 1.68% of the company’s stock.

Luxottica Group SpA (NYSE LUX) opened at 60.90 on Tuesday. Luxottica Group SpA has a 12-month low of $44.85 and a 12-month high of $62.57. The stock has a 50 day moving average of $59.65 and a 200 day moving average of $56.17.

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Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Luxottica Group SpA from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th. Morgan Stanley upgraded shares of Luxottica Group SpA from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Luxottica Group SpA currently has an average rating of “Hold” and an average price target of $49.00.

Luxottica Group SpA Company Profile

Luxottica Group S.p.A. is a holding company. The Company is engaged in the design, manufacture and distribution of fashion, luxury, sport and performance eyewear. The Company operates through two segments: manufacturing and wholesale distribution, and retail distribution. Through its manufacturing and wholesale distribution operations, the Company is engaged in design, manufacturing, wholesale distribution and marketing of brands and designer lines of prescription frames and sunglasses, as well as of performance optics products.

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