Public Flowers, Inc.
recently disclosed that they own a 59.5% stake in 1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) in a Form 13D disclosure that was filed with the Securities and Exchange Commission on Thursday, July 27th. The investor owns 40,621,291 shares of the stock worth approximately $379,809,071. The reporting parties listed on the disclosure included Christopher G McCann, individually and as a Trustee of the Erin McCann 2005 Trust, as a Trustee of the James F McCann 2005 Trust, as a Trustee of the Matthew E McCann 2005 Trust, as Trustee of The James F McCann 2012 Family Trust – Portion I, as Trustee , James McCann 2005 Trust, Matthew McCann 2005 Trust, The James F McCann 2012 Family Trust – Portion II, The McCann Family Limited Partnership, The 1999 McCann Family Limited Partnership, Public Flowers, Inc, The Marylou McCann 1999 Trust u/a/d July 6, 1999, Marylou McCann, individually and as a Trustee of the Erin McCann 2005 Trust, as a Trustee of the James F McCann 2005 Trust, and as a Trustee of the Matthew E McCann 2005 Trust, Erin Moore Lenehan, individually and as a Trustee of the Erin McCann 2005 Trust, James F McCann, III, individually and as a Trustee of the James McCann 2005 Trust and as a Director of Public Flowers, Inc, the general partner of the 1999 McCann Family Limited Partnership and Matthew E McCann, individually and as a Trustee of the Matthew McCann 2005 Trust. The filing is available through EDGAR at this hyperlink.
Public Flowers, Inc.
provided the following explanation of their ownership:
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLWS. Bbva Compass Bancshares Inc. raised its position in 1-800 FLOWERS.COM by 6.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 68,388 shares of the specialty retailer’s stock worth $697,000 after buying an additional 4,348 shares during the period. Wells Fargo & Company MN raised its stake in shares of 1-800 FLOWERS.COM by 1.9% in the first quarter. Wells Fargo & Company MN now owns 21,063 shares of the specialty retailer’s stock worth $215,000 after buying an additional 400 shares during the last quarter. North Star Investment Management Corp. raised its stake in shares of 1-800 FLOWERS.COM by 30.2% in the first quarter. North Star Investment Management Corp. now owns 127,405 shares of the specialty retailer’s stock worth $1,300,000 after buying an additional 29,555 shares during the last quarter. BTC Capital Management Inc. raised its stake in shares of 1-800 FLOWERS.COM by 1.4% in the first quarter. BTC Capital Management Inc. now owns 34,699 shares of the specialty retailer’s stock worth $352,000 after buying an additional 476 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of 1-800 FLOWERS.COM by 31.7% in the first quarter. Russell Investments Group Ltd. now owns 18,906 shares of the specialty retailer’s stock worth $192,000 after buying an additional 4,546 shares during the last quarter. 33.53% of the stock is owned by institutional investors and hedge funds.
Shares of 1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) traded up 0.54% on Friday, hitting $9.35. The company had a trading volume of 74,445 shares. The firm has a market capitalization of $610.88 million, a P/E ratio of 25.07 and a beta of 1.58. The firm has a 50 day moving average of $9.70 and a 200-day moving average of $10.00. 1-800 FLOWERS.COM, Inc. has a 12-month low of $8.06 and a 12-month high of $11.40.
A number of equities research analysts have commented on FLWS shares. Northcoast Research restated a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of 1-800 FLOWERS.COM in a research report on Wednesday, May 3rd. Noble Financial restated a “buy” rating on shares of 1-800 FLOWERS.COM in a research report on Friday, April 14th. Zacks Investment Research raised 1-800 FLOWERS.COM from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. DA Davidson started coverage on 1-800 FLOWERS.COM in a research note on Wednesday, June 14th. They set a “neutral” rating and a $11.00 price target for the company. Finally, FBR & Co started coverage on 1-800 FLOWERS.COM in a research note on Tuesday, July 11th. They set an “outperform” rating and a $13.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $12.69.
1-800 FLOWERS.COM Company Profile
1-800-FLOWERS.COM, Inc is a provider of gourmet food and floral gifts for all occasions. The Company offers gifts for every occasion, including fresh flowers and a selection of plants, gift baskets, gourmet foods, confections, candles, balloons and stuffed animals. The Company operates through three business segments: Consumer Floral, Gourmet Food and Gift Baskets, and BloomNet Wire Service.
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