Bank of New York Mellon Corp increased its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF – Get Rating) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,397 shares of the company’s stock after purchasing an additional 2,638 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fox Factory were worth $36,090,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of FOXF. Wipfli Financial Advisors LLC acquired a new position in shares of Fox Factory during the third quarter worth about $26,000. National Bank of Canada FI grew its holdings in Fox Factory by 63.4% during the 3rd quarter. National Bank of Canada FI now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares in the last quarter. Covestor Ltd raised its holdings in shares of Fox Factory by 58.4% in the 1st quarter. Covestor Ltd now owns 358 shares of the company’s stock valued at $35,000 after purchasing an additional 132 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Fox Factory by 98.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 479 shares of the company’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Fox Factory during the first quarter worth $69,000. Institutional investors and hedge funds own 98.71% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FOXF. Robert W. Baird raised their price target on Fox Factory from $100.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, February 24th. TheStreet raised Fox Factory from a “c+” rating to a “b” rating in a report on Tuesday, March 7th. Stifel Nicolaus raised their price objective on shares of Fox Factory from $115.00 to $133.00 in a report on Monday, December 5th. Jefferies Financial Group upped their target price on shares of Fox Factory from $120.00 to $135.00 in a report on Monday, December 5th. Finally, Truist Financial increased their target price on shares of Fox Factory from $115.00 to $125.00 in a research report on Friday, February 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $128.25.
Fox Factory Trading Up 0.8 %
Fox Factory (NASDAQ:FOXF – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.22 by $0.21. Fox Factory had a net margin of 12.81% and a return on equity of 22.55%. The firm had revenue of $408.60 million during the quarter, compared to the consensus estimate of $383.86 million. During the same quarter in the prior year, the firm earned $1.06 EPS. Fox Factory’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, research analysts predict that Fox Factory Holding Corp. will post 5.33 EPS for the current year.
Insider Transactions at Fox Factory
In related news, CEO Michael C. Dennison sold 7,500 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $115.00, for a total value of $862,500.00. Following the transaction, the chief executive officer now owns 62,701 shares in the company, valued at approximately $7,210,615. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.
Fox Factory Company Profile
Fox Factory Holding Corp. engages in designing, engineering, manufacturing and marketing performance ride dynamics products. The firm offers bicycles, side-by-sides and on-road vehicles with off-road capabilities, off-road vehicles and trucks, all – terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles.
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