Wells Fargo & Company MN trimmed its holdings in Ascena Retail Group (NASDAQ:ASNA) by 26.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,928 shares of the specialty retailer’s stock after selling 79,880 shares during the period. Wells Fargo & Company MN owned 0.11% of Ascena Retail Group worth $517,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in ASNA. Teacher Retirement System of Texas boosted its stake in Ascena Retail Group by 298.9% during the fourth quarter. Teacher Retirement System of Texas now owns 49,225 shares of the specialty retailer’s stock worth $116,000 after buying an additional 36,884 shares during the period. Wedge Capital Management L L P NC purchased a new position in Ascena Retail Group in the fourth quarter worth approximately $250,000. JPMorgan Chase & Co. purchased a new position in Ascena Retail Group in the third quarter worth approximately $337,000. Schwab Charles Investment Management Inc. lifted its stake in Ascena Retail Group by 14.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,515,065 shares of the specialty retailer’s stock worth $3,561,000 after acquiring an additional 193,328 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Ascena Retail Group by 19.1% in the fourth quarter. California Public Employees Retirement System now owns 2,087,284 shares of the specialty retailer’s stock worth $4,905,000 after acquiring an additional 335,142 shares during the last quarter. Hedge funds and other institutional investors own 91.98% of the company’s stock.
NASDAQ ASNA opened at $3.03 on Friday. Ascena Retail Group has a 12 month low of $2.87 and a 12 month high of $3.34. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.29 and a quick ratio of 0.64. The stock has a market cap of $625.86 million, a PE ratio of 35.44 and a beta of 1.72.
Ascena Retail Group (NASDAQ:ASNA) last posted its earnings results on Monday, March 5th. The specialty retailer reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.03). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.65 billion. Ascena Retail Group had a positive return on equity of 2.02% and a negative net margin of 16.52%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. analysts expect that Ascena Retail Group will post -0.06 earnings per share for the current fiscal year.
A number of analysts have weighed in on ASNA shares. BidaskClub raised shares of Ascena Retail Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. Zacks Investment Research raised shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine upgraded shares of Ascena Retail Group from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, B. Riley lowered their price objective on shares of Ascena Retail Group from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 6th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ascena Retail Group currently has an average rating of “Hold” and an average target price of $2.60.
About Ascena Retail Group
Ascena Retail Group, Inc, through its subsidiaries, operates as a specialty retailer of apparel, shoes, and accessories for women and tween girls in the United States, Canada, and Puerto Rico. The company operates through six segments: ANN, Justice, Lane Bryant, maurices, dressbarn, and Catherines. It creates, designs, and develops a range of merchandise, including apparel, accessories, footwear, and intimates; lifestyle products comprising cosmetics and bedroom furnishings; and wear-to-work, sportswear, footwear, and social occasion apparel.
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