Front Street Capital Management Inc. Has $573,000 Stake in The Container Store Group, Inc. (NYSE:TCS)

Front Street Capital Management Inc. trimmed its holdings in shares of The Container Store Group, Inc. (NYSE:TCS) by 47.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,190 shares of the specialty retailer’s stock after selling 957,052 shares during the period. Front Street Capital Management Inc. owned 2.06% of The Container Store Group worth $573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in The Container Store Group during the second quarter worth about $165,000. Jacobs Levy Equity Management Inc. acquired a new position in The Container Store Group during the first quarter worth approximately $490,000. Renaissance Technologies LLC increased its position in The Container Store Group by 21.0% during the second quarter. Renaissance Technologies LLC now owns 88,200 shares of the specialty retailer’s stock worth $48,000 after buying an additional 15,300 shares during the last quarter. Zazove Associates LLC grew its position in shares of The Container Store Group by 72.6% in the first quarter. Zazove Associates LLC now owns 470,410 shares of the specialty retailer’s stock valued at $536,000 after purchasing an additional 197,831 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in The Container Store Group during the 4th quarter worth $34,000. 67.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered their price objective on shares of The Container Store Group from $0.13 to $0.07 and set a “neutral” rating for the company in a research report on Tuesday, May 28th.

The Container Store Group Stock Down 1.9 %

Shares of NYSE TCS opened at $11.99 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.31 and a debt-to-equity ratio of 1.47. The company’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $1.13. The Container Store Group, Inc. has a 12-month low of $7.50 and a 12-month high of $37.80. The firm has a market cap of $618.55 million, a PE ratio of -5.74 and a beta of 1.03.

The Container Store Group (NYSE:TCS) last announced its earnings results on Tuesday, August 6th. The specialty retailer reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $181.86 million during the quarter, compared to analysts’ expectations of $190.01 million. The Container Store Group had a negative net margin of 12.91% and a negative return on equity of 9.77%. During the same quarter in the prior year, the company earned ($0.01) EPS. As a group, sell-side analysts forecast that The Container Store Group, Inc. will post -4.18 earnings per share for the current fiscal year.

About The Container Store Group

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop organizers, cosmetic and jewelry organizers, shower and bathtub organizers, drawer organization, and cabinet storage products; closets; and ventilated and solid shelving and drawer components and systems, wall and door rack solutions, accessories, utility and garage systems, and sliding doors.