Contrarius Investment Management Ltd Lowers stake in Fossil Group Inc (FOSL)

Fossil Group Inc (FOSL) : Contrarius Investment Management Ltd reduced its stake in Fossil Group Inc by 37.18% during the most recent quarter end. The investment management company now holds a total of 144,966 shares of Fossil Group Inc which is valued at $4,344,631 after selling 85,784 shares in Fossil Group Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Fossil Group Inc makes up approximately 0.34% of Contrarius Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems sold out all of its stake in FOSL during the most recent quarter. The investment firm sold 7,504 shares of FOSL which is valued $224,895. Royal London Asset Management Ltd sold out all of its stake in FOSL during the most recent quarter. The investment firm sold 14,375 shares of FOSL which is valued $430,819.Quadrant Capital Group reduced its stake in FOSL by selling 33 shares or 35.11% in the most recent quarter. The Hedge Fund company now holds 61 shares of FOSL which is valued at $1,928.Lucus Advisors boosted its stake in FOSL in the latest quarter, The investment management firm added 363 additional shares and now holds a total of 12,245 shares of Fossil Group Inc which is valued at $382,411. Fossil Group Inc makes up approx 0.29% of Lucus Advisors’s portfolio. Capstone Asset Management Co sold out all of its stake in FOSL during the most recent quarter. The investment firm sold 7,061 shares of FOSL which is valued $217,691.

Fossil Group Inc opened for trading at $30.6 and hit $31.59 on the upside on Monday, eventually ending the session at $30.74, with a gain of 0.62% or 0.19 points. The heightened volatility saw the trading volume jump to 12,82,465 shares. Company has a market cap of $1,479 M.

On the company’s financial health, Fossil Group Inc reported $0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.08. The company had revenue of $685.00 million for the quarter, compared to analysts expectations of $671.67 million. The company’s revenue was down -7.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.12 EPS.

Many Wall Street Analysts have commented on Fossil Group Inc. Company shares were Reiterated by Mizuho on Aug 10, 2016 to “Neutral”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .Shares were Reiterated by Mizuho on May 11, 2016 to “Neutral” and Lowered the Price Target to $ 27 from a previous price target of $36 .Shares were Reiterated by Telsey Advisory Group on May 11, 2016 to “Market Perform” and Lowered the Price Target to $ 32 from a previous price target of $40 .

Fossil Group Inc. is a global designer marketer and distributor company that specializes in consumer fashion accessories. The Company’s offerings include a line of men’s and women’s fashion watches and jewelry handbags small leather goods belts sunglasses soft accessories and select apparel. The Company operates in four different segments: the North America Wholesale segment the Europe Wholesale segment Asia Pacific Wholesale segment and the Direct to Consumer segment. Its products are distributed globally through various distribution channels including wholesale retail stores and commercial Websites. The Company sells its products through a diversified distribution network that includes department stores specialty retail locations specialty watch and jewelry stores Company-owned retail and factory outlet stores mass market stores and through its FOSSIL Website.

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