Fifth Third Bancorp Buys 261 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Fifth Third Bancorp lifted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 26.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,245 shares of the company’s stock after acquiring an additional 261 shares during the quarter. Fifth Third Bancorp’s holdings in Fox Factory were worth $60,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FOXF. Vanguard Group Inc. boosted its position in Fox Factory by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock worth $232,793,000 after purchasing an additional 228,339 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Fox Factory by 0.6% in the first quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock worth $64,097,000 after buying an additional 7,468 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Fox Factory by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock worth $55,461,000 after buying an additional 12,474 shares during the period. Norges Bank acquired a new position in Fox Factory in the 4th quarter valued at $31,429,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fox Factory by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 421,003 shares of the company’s stock worth $28,409,000 after acquiring an additional 16,542 shares during the period.

Analyst Ratings Changes

A number of research firms have issued reports on FOXF. Bank of America decreased their price target on shares of Fox Factory from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Truist Financial lowered their target price on Fox Factory from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their price target on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Fox Factory from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, B. Riley cut their target price on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Fox Factory Price Performance

Shares of NASDAQ:FOXF opened at $40.05 on Tuesday. The firm has a market capitalization of $1.67 billion, a PE ratio of 22.37, a PEG ratio of 2.10 and a beta of 1.66. The company has a current ratio of 3.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.63. Fox Factory Holding Corp. has a 1-year low of $37.48 and a 1-year high of $112.85. The business’s 50 day moving average is $46.03 and its 200-day moving average is $47.62.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Fox Factory had a net margin of 3.07% and a return on equity of 7.62%. The firm had revenue of $348.49 million for the quarter, compared to the consensus estimate of $346.22 million. During the same quarter in the previous year, the company earned $1.21 earnings per share. The business’s revenue was down 13.0% compared to the same quarter last year. Sell-side analysts predict that Fox Factory Holding Corp. will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, with a total value of $198,912.00. Following the completion of the acquisition, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Thomas L. Fletcher sold 2,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $44.41, for a total transaction of $88,820.00. Following the completion of the sale, the insider now owns 11,311 shares in the company, valued at approximately $502,321.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael C. Dennison purchased 4,800 shares of Fox Factory stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.