Pool Co. (NASDAQ:POOL) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its position in shares of Pool Co. (NASDAQ:POOL) by 5.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,178 shares of the specialty retailer’s stock after selling 289 shares during the period. CIBC Asset Management Inc’s holdings in Pool were worth $1,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Blair William & Co. IL increased its holdings in shares of Pool by 6.0% during the 1st quarter. Blair William & Co. IL now owns 843,650 shares of the specialty retailer’s stock worth $340,413,000 after buying an additional 47,640 shares during the last quarter. Wasatch Advisors LP boosted its position in Pool by 9.6% during the 1st quarter. Wasatch Advisors LP now owns 525,004 shares of the specialty retailer’s stock worth $211,839,000 after purchasing an additional 45,953 shares during the period. Bank of New York Mellon Corp boosted its position in Pool by 26.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 433,166 shares of the specialty retailer’s stock worth $133,125,000 after purchasing an additional 90,951 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Pool by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,844 shares of the specialty retailer’s stock worth $133,904,000 after purchasing an additional 8,102 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Pool by 12.6% during the 4th quarter. Baird Financial Group Inc. now owns 334,839 shares of the specialty retailer’s stock worth $133,504,000 after purchasing an additional 37,348 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Loop Capital decreased their price target on shares of Pool from $370.00 to $305.00 and set a “hold” rating for the company in a research report on Tuesday, June 25th. Stifel Nicolaus upped their price target on shares of Pool from $310.00 to $335.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Oppenheimer upped their price target on shares of Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Pool from $285.00 to $330.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Bank of America decreased their price objective on shares of Pool from $338.00 to $290.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $350.00.

Pool Stock Performance

Shares of POOL stock opened at $341.37 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.88 and a current ratio of 2.48. Pool Co. has a one year low of $293.51 and a one year high of $422.73. The company’s 50-day simple moving average is $339.81 and its 200-day simple moving average is $362.16. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 2.58 and a beta of 1.00.

Pool (NASDAQ:POOL) last issued its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, topping the consensus estimate of $4.90 by $0.09. Pool had a net margin of 8.58% and a return on equity of 32.85%. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted $5.89 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts anticipate that Pool Co. will post 10.98 earnings per share for the current fiscal year.

Pool Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.80 annualized dividend and a yield of 1.41%. Pool’s dividend payout ratio (DPR) is 37.56%.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.