As of its most recent filing with the Securities and Exchange Commission (SEC), American Century Companies Inc. has increased its position in Guess?, Inc. (NYSE:GES) by 15.6% during the first quarter. The firm now owns 389,918 shares of the company’s stock after acquiring an additional 52,582 shares during the quarter. This represents approximately 0.70% ownership of Guess? and is valued at $7,373,000 as of the filing.
Guess? recently released its quarterly earnings results on August 23rd. The company reported earnings per share (EPS) of $0.72 for the quarter, surpassing the consensus estimate of $0.40 by $0.32. It also demonstrated a return on equity of 31.02% and a net margin of 5.40%. Furthermore, Guess? generated revenue of $664.51 million during the quarter, compared to a consensus estimate of $640.50 million.
In comparison to the same quarter in the previous year where it posted EPS of $0.39, Guess? experienced an increase in revenue by 3.4% on a year-over-year basis.
Sell-side analysts predict that Guess?, Inc., will post EPS of 3.05 for the current fiscal year.
This data showcases American Century Companies Inc.’s confidence in Guess?’s future prospects as they have increased their position in the company significantly during this quarter.
For more information and analysis on GES’s latest developments, please refer to our comprehensive report available on our website.
Date: September 5, 2023
Banc of California, Inc.
BANC
Strong Buy
Updated on: 03/12/2023
Very Healthy 
Hedge Funds and Institutional Investors Show Interest in Guess? as Stock Price Fluctuates
It is perplexing to note that several hedge funds have recently made changes to their positions in Guess?, a global clothing brand. PNC Financial Services Group Inc., for example, has raised its stake in the company by 27.5% during the first quarter of this year. The financial group now owns 2,692 shares of Guess? stock, valued at $59,000 after purchasing an additional 581 shares within the same period.
MetLife Investment Management LLC also took part in raising its position in Guess?, increasing it by 48.5% during the first quarter. MetLife now owns 22,428 shares of the company’s stock, valued at $490,000 after acquiring an additional 7,322 shares.
Another institutional investor, Commonwealth of Pennsylvania Public School Empls Retrmt SYS, lifted its stake in Guess? by 14.1% during the first quarter as well. The Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,609 shares of Guess? stock worth $734,000 after acquiring an additional 4,152 shares within the last quarter.
Additionally, APG Asset Management N.V., acquired a new stake in Guess? during the first quarter with an approximate value of $391,000. Great West Life Assurance Co. Can also increased its holdings in shares of Guess? by 6.0% during this period and now owns 37,147 shares valued at $833,000 after purchasing an additional 2,112 shares.
The fact that hedge funds and other institutional investors own a significant portion – around 61.74% – of Guess?’s stock highlights the heightened interest surrounding this clothing brand.
On Tuesday morning GES stock opened at $24.48 with a current ratio of 1.47 and a quick ratio of 0.82 indicating the company’s liquidity levels. The debt-to-equity ratio for Guess? stands at a relatively moderate 0.77. With a market cap of $1.31 billion, Guess? is categorized as a mid-sized company within the industry.
The company’s price-earning (PE) ratio stands at 11.49, while its beta is calculated at 1.89. The one year range for Guess?’s stock shows a low of $14.27 and a high of $24.84, with the share prices experiencing some fluctuations within this period.
Guess? has also recently declared a quarterly dividend which will be paid on Friday, September 22nd. Stockholders who were registered on Wednesday, September 6th will receive a dividend of $0.30 per share. Annually, this amounts to $1.20 per share based on the current payout ratio of 56.34%. The ex-dividend date was set for Tuesday, September 5th.
Analysts have provided their insights on Guess?. Telsey Advisory Group has reiterated its “market perform” rating and assigned a price target of $23.00 per share in their report released on Thursday, August 24th. An analyst from 888 has also provided an “initiates” rating on shares of Guess?, while TheStreet upgraded the clothing brand from a “c+” rating to a “b” rating in its report published on Wednesday, August 23rd.
UBS Group initiated coverage on Guess? with a “neutral” rating and a price objective of $22.00 per share in their research report released on Friday, June 16th.
Furthermore, StockNews.com upgraded its rating for Guess? from “hold” to “buy” in another research report released on Friday, August 25th.
In summary, hedge funds and institutional investors continue to show interest in Guess?, making changes to their positions within the company during the first quarter this year.
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