State Board of Administration of Florida Retirement System lowered its position in shares of Zumiez Inc. (NASDAQ:ZUMZ – Get Rating) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,717 shares of the apparel and footwear maker’s stock after selling 720 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Zumiez were worth $227,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Zumiez by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,947 shares of the apparel and footwear maker’s stock valued at $495,000 after buying an additional 652 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Zumiez by 1.3% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 368,666 shares of the apparel and footwear maker’s stock worth $9,585,000 after purchasing an additional 4,890 shares during the last quarter. ARGI Investment Services LLC increased its stake in Zumiez by 22.5% during the second quarter. ARGI Investment Services LLC now owns 70,702 shares of the apparel and footwear maker’s stock worth $1,838,000 after acquiring an additional 12,995 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Zumiez by 13.1% during the second quarter. Exchange Traded Concepts LLC now owns 33,217 shares of the apparel and footwear maker’s stock worth $864,000 after acquiring an additional 3,853 shares during the last quarter. Finally, Euclidean Technologies Management LLC grew its stake in shares of Zumiez by 6.0% during the second quarter. Euclidean Technologies Management LLC now owns 60,440 shares of the apparel and footwear maker’s stock valued at $1,571,000 after buying an additional 3,400 shares during the last quarter. Institutional investors own 87.11% of the company’s stock.
Zumiez Price Performance
Zumiez stock opened at $22.98 on Tuesday. The company has a market capitalization of $447.42 million, a price-to-earnings ratio of 7.44 and a beta of 1.48. Zumiez Inc. has a 12-month low of $20.29 and a 12-month high of $55.10. The firm’s fifty day moving average price is $22.32 and its 200 day moving average price is $26.41.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ZUMZ. B. Riley downgraded Zumiez from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $25.00 in a research report on Friday, September 9th. StockNews.com assumed coverage on Zumiez in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, William Blair lowered shares of Zumiez from an “outperform” rating to a “market perform” rating in a research report on Friday, September 9th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.50.
Zumiez Inc, together with its subsidiaries, operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. Its hardgoods include skateboards, snowboards, bindings, components, and other equipment. As of February 26, 2022, the company operated 738 stores, including 602 stores in the United States, 52 stores in Canada, 67 stores in Europe, and 17 stores in Australia under the names of Zumiez, Blue Tomato, and Fast Times.
- Get a free copy of the StockNews.com research report on Zumiez (ZUMZ)
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