Kingsview Wealth Management LLC Sells 176,071 Shares of Guess?, Inc. (NYSE:GES)

Kingsview Wealth Management LLC trimmed its holdings in Guess?, Inc. (NYSE:GES) by 83.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,021 shares of the company’s stock after selling 176,071 shares during the quarter. Kingsview Wealth Management LLC owned about 0.07% of Guess? worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GES. Mirae Asset Global Investments Co. Ltd. raised its holdings in Guess? by 2.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,315 shares of the company’s stock worth $468,000 after buying an additional 454 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Guess? by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 37,381 shares of the company’s stock valued at $862,000 after purchasing an additional 469 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Guess? by 3.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,455 shares of the company’s stock worth $486,000 after purchasing an additional 700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Guess? by 19.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,838 shares of the company’s stock worth $135,000 after buying an additional 944 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in Guess? by 4.4% during the third quarter. Texas Permanent School Fund Corp now owns 23,176 shares of the company’s stock valued at $502,000 after buying an additional 985 shares during the period. 61.74% of the stock is owned by hedge funds and other institutional investors.

Guess? Trading Down 0.6 %

Shares of Guess? stock opened at $26.24 on Monday. The business has a 50-day moving average price of $27.60 and a 200-day moving average price of $24.81. Guess?, Inc. has a twelve month low of $17.21 and a twelve month high of $33.50. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 9.05 and a beta of 1.98. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 0.50.

Guess? (NYSE:GES) last released its earnings results on Wednesday, March 20th. The company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.46. The firm had revenue of $891.05 million for the quarter, compared to the consensus estimate of $855.54 million. Guess? had a return on equity of 30.02% and a net margin of 7.14%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 EPS. Equities research analysts anticipate that Guess?, Inc. will post 2.91 EPS for the current fiscal year.

Guess? Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Wednesday, April 17th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Tuesday, April 16th. Guess?’s dividend payout ratio is currently 41.38%.

Guess? declared that its board has approved a stock repurchase program on Monday, April 1st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 14.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com raised Guess? from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Telsey Advisory Group lifted their price objective on Guess? from $23.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. B. Riley reiterated a “buy” rating and set a $37.00 price objective (up from $33.00) on shares of Guess? in a research note on Monday, April 8th. Jefferies Financial Group raised their target price on shares of Guess? from $24.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Finally, UBS Group raised their price objective on shares of Guess? from $26.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.00.

Insider Activity at Guess?

In other news, CEO Carlos Alberini sold 138,203 shares of Guess? stock in a transaction on Monday, April 8th. The stock was sold at an average price of $30.53, for a total transaction of $4,219,337.59. Following the completion of the sale, the chief executive officer now directly owns 1,131,575 shares in the company, valued at $34,546,984.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 30.30% of the stock is owned by company insiders.

About Guess?

Guess?, Inc designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. It operates through five segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing. The company's clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, activewear, knitwear, and intimate apparel.