Trade Report: Today, Investment Management of Virginia LLC Reduces stake in Chico’s FAS Inc. (CHS)

Today, Investment Management of Virginia LLC Reduces stake in Chico’s FAS Inc. (CHS)

Investment Management of Virginia LLC cut its stake in Chico’s FAS Inc. (NYSE:CHS) by 39.6% during the third quarter, Holdings Channel reports. The firm owned 209,060 shares of the company’s stock after selling 137,087 shares during the period. Investment Management of Virginia LLC’s holdings in Chico’s FAS were worth $2,488,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CHS. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Chico’s FAS during the second quarter valued at approximately $100,000. Oakbrook Investments LLC boosted its stake in shares of Chico’s FAS by 0.9% in the second quarter. Oakbrook Investments LLC now owns 10,700 shares of the company’s stock valued at $115,000 after buying an additional 100 shares during the period. Marshall Wace LLP acquired a new stake in shares of Chico’s FAS during the second quarter valued at approximately $117,000. Royal Bank of Canada boosted its stake in shares of Chico’s FAS by 2,217.2% in the second quarter. Royal Bank of Canada now owns 11,331 shares of the company’s stock valued at $121,000 after buying an additional 10,842 shares during the period. Finally, Princeton Alpha Management LP acquired a new stake in shares of Chico’s FAS during the second quarter valued at approximately $142,000. 91.80% of the stock is owned by institutional investors and hedge funds.

Chico’s FAS Inc. (NYSE:CHS) traded down 1.29% during trading on Monday, reaching $15.33. The company’s stock had a trading volume of 2,233,813 shares. Chico’s FAS Inc. has a 52 week low of $9.61 and a 52 week high of $16.07. The company’s 50 day moving average price is $12.85 and its 200 day moving average price is $11.87. The company has a market cap of $1.98 billion, a P/E ratio of 97.64 and a beta of 0.73.

Chico’s FAS (NYSE:CHS) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.07. Chico’s FAS had a net margin of 2.24% and a return on equity of 16.24%. The business earned $596.90 million during the quarter, compared to analysts’ expectations of $610.83 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. On average, equities analysts anticipate that Chico’s FAS Inc. will post $0.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, December 5th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, December 1st. Chico’s FAS’s dividend payout ratio is currently 76.19%.

Several analysts have recently commented on the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $14.00 target price (up previously from $13.00) on shares of Chico’s FAS in a research report on Sunday, September 4th. Deutsche Bank AG lifted their price objective on Chico’s FAS from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, November 23rd. Zacks Investment Research raised Chico’s FAS from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday. Jefferies Group reissued a “hold” rating on shares of Chico’s FAS in a research report on Monday, August 1st. Finally, FBR & Co reissued an “outperform” rating and set a $17.00 price objective on shares of Chico’s FAS in a research report on Saturday, September 3rd. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.50.

About Chico’s FAS

Chico’s FAS, Inc is a specialty retailer of women’s private branded, casual-to-dressy clothing, intimates, complementary accessories and other non-clothing items operating under the Chico’s, White House Black Market (WHBM) and Soma brand names. The Company’s brands are specialty retailers of private label women’s apparel and related products.

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