Massachusetts Financial Services Co. MA Cuts Position in Zumiez Inc. (NASDAQ:ZUMZ)

Massachusetts Financial Services Co. MA lessened its position in Zumiez Inc. (NASDAQ:ZUMZ) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,359,412 shares of the apparel and footwear maker’s stock after selling 129,243 shares during the period. Massachusetts Financial Services Co. MA owned about 6.71% of Zumiez worth $26,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Zumiez by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,605,551 shares of the apparel and footwear maker’s stock worth $32,657,000 after buying an additional 49,581 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Zumiez by 2.3% in the first quarter. Vanguard Group Inc. now owns 901,774 shares of the apparel and footwear maker’s stock worth $13,698,000 after buying an additional 20,099 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Zumiez by 11.8% in the first quarter. First Eagle Investment Management LLC now owns 470,743 shares of the apparel and footwear maker’s stock worth $7,151,000 after buying an additional 49,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Zumiez by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 457,780 shares of the apparel and footwear maker’s stock worth $9,311,000 after buying an additional 39,470 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Zumiez by 17.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 236,158 shares of the apparel and footwear maker’s stock worth $3,587,000 after buying an additional 34,638 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

Zumiez Stock Down 5.6 %

Shares of Zumiez stock opened at $22.24 on Friday. The company has a market cap of $450.89 million, a price-to-earnings ratio of -7.15 and a beta of 1.25. The company’s 50 day moving average is $24.94 and its 200 day moving average is $19.84. Zumiez Inc. has a twelve month low of $12.90 and a twelve month high of $31.37.

Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings results on Thursday, September 5th. The apparel and footwear maker reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.29. Zumiez had a negative net margin of 6.02% and a negative return on equity of 3.52%. The business had revenue of $210.18 million for the quarter, compared to the consensus estimate of $201.93 million. During the same period last year, the firm earned ($0.44) earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that Zumiez Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZUMZ has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Zumiez from $14.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, June 7th. B. Riley increased their price objective on shares of Zumiez from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 6th.

About Zumiez

Zumiez Inc operates as a specialty retailer of apparel, footwear, accessories, and hardgoods for young men and women. The company provides hardgoods, including skateboards, snowboards, bindings, components, and other equipment. It operates stores in the United States, Canada, Europe, and Australia under the names of Zumiez, Blue Tomato, and Fast Times.