1620 Investment Advisors Inc. Sells 1,848 Shares of Guess?, Inc. (NYSE:GES)

1620 Investment Advisors Inc. cut its position in Guess?, Inc. (NYSE:GES) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,662 shares of the company’s stock after selling 1,848 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Guess? were worth $396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of Guess? in the second quarter worth about $82,286,000. Vanguard Group Inc. grew its stake in shares of Guess? by 15.7% during the first quarter. Vanguard Group Inc. now owns 3,879,570 shares of the company’s stock worth $122,090,000 after buying an additional 525,064 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Guess? by 41.6% during the second quarter. Hennessy Advisors Inc. now owns 1,615,800 shares of the company’s stock worth $32,962,000 after purchasing an additional 474,700 shares during the last quarter. LSV Asset Management increased its position in Guess? by 0.6% in the 2nd quarter. LSV Asset Management now owns 1,454,320 shares of the company’s stock valued at $29,668,000 after acquiring an additional 9,100 shares during the period. Finally, Millennium Management LLC increased its holdings in Guess? by 2,180.2% in the second quarter. Millennium Management LLC now owns 1,370,131 shares of the company’s stock valued at $27,951,000 after purchasing an additional 1,310,042 shares during the period. Institutional investors own 61.74% of the company’s stock.

Analyst Upgrades and Downgrades

GES has been the subject of a number of analyst reports. Telsey Advisory Group lowered their target price on shares of Guess? from $26.00 to $21.00 and set a “market perform” rating for the company in a research note on Thursday, August 29th. UBS Group dropped their price objective on shares of Guess? from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.25.

Guess? Price Performance

Shares of NYSE GES opened at $17.16 on Thursday. The stock has a fifty day moving average of $19.43 and a 200-day moving average of $22.04. The stock has a market cap of $882.40 million, a PE ratio of 6.92 and a beta of 1.92. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 1.47. Guess?, Inc. has a fifty-two week low of $17.16 and a fifty-two week high of $33.50.

Guess? (NYSE:GES) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $732.60 million during the quarter, compared to the consensus estimate of $729.96 million. Guess? had a return on equity of 24.18% and a net margin of 6.05%. Guess?’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. Equities research analysts anticipate that Guess?, Inc. will post 2.63 earnings per share for the current year.

Guess? Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, September 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 6.99%. The ex-dividend date of this dividend was Wednesday, September 11th. Guess?’s dividend payout ratio is currently 48.39%.

Guess? Company Profile

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.