On September 24, 2023, Nordea Investment Management AB announced that it had reduced its holdings in 1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) by 11.0%. This move was reported in the company’s most recent 13F filing with the Securities and Exchange Commission. As a result of this reduction, the institutional investor now owns 264,789 shares of the specialty retailer’s stock, having sold 32,702 shares during the second quarter.
At the end of the most recent quarter, Nordea Investment Management AB’s ownership in 1-800-FLOWERS.COM was valued at $2,139,000. While this represents a decrease in their overall holdings, it is important to note that Nordea Investment Management AB still held approximately 0.41% ownership of 1-800-FLOWERS.COM.
NASDAQ:FLWS opened at $6.58 on Friday and has demonstrated a range between $5.82 and $13.29 over the past year. With a market capitalization of $426.25 million, the company has a debt-to-equity ratio of 0.40 and current and quick ratios of 1.69 and 0.62 respectively.
Furthermore, as of now, 1-800-FLOWERS.COM boasts a price-to-earnings ratio of -9.40 and a price-to-earnings-growth ratio of 1.50. These figures provide investors with insight into its financial performance relative to its earnings growth potential.
It is essential to recognize that investments within specialty retailers like 1-800-FLOWERS.COM carry inherent risks due to factors such as changing consumer preferences and market conditions.
Given these details surrounding Nordea Investment Management AB’s reduction in holdings for this particular company and taking into account market trends along with key financial indicators associated with both parties involved, investors should proceed with appropriate due diligence to make well-informed investment decisions.
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Growing Interest from Hedge Funds and Positive Insider Activity Indicate Promising Future for 1-800-FLOWERS.COM
In recent news, several hedge funds and institutional investors have made changes to their stakes in specialty retailer 1-800-FLOWERS.COM (NASDAQ:FLWS). The Swiss National Bank increased its position in the company by 7.9% during the first quarter, adding an additional 4,800 shares valued at $836,000. JPMorgan Chase & Co. also raised its position in 1-800-FLOWERS.COM by a staggering 201.0% during the same period, acquiring an additional 181,309 shares valued at $3,465,000.
Furthermore, HighTower Advisors LLC saw a significant increase in its stake in the company by 35.8% during the first quarter, with an additional 6,484 shares valued at $315,000. MetLife Investment Management LLC also reported raising its stake in 1-800-FLOWERS.COM by 54.9%, purchasing an extra 5,514 shares valued at $199,000. Finally, BlackRock Inc., one of the largest investment management firms globally, raised its stake in the company by 5.0%, adding an incredible 155,987 shares valued at $42,086,000.
These moves made by institutional investors indicate a growing interest and confidence in the specialty retailer’s potential for growth and profitability.
Aside from institutional investors’ activities on stock purchases, there have been notable insider transactions as well. CFO William E. Shea acquired 30,000 shares on September 7th for an average price of $6.34 per share – totaling $190,200. After this acquisition, Shea now possesses approximately-controlled holdings of around 274k shares worth about $1.74 million.
In addition to Shea’s purchase of company stock on September 7th was President Thomas G.Hartnett who also bought a considerable chunk of shares amounting to approximately $152k at an average purchase price of $6.09 per share. Hartnett’s acquisition brings his total holdings to roughly 280k shares worth about $1.71 million.
These insider purchases might indicate a positive outlook from company executives regarding the future performance of 1-800-FLOWERS.COM.
Turning our attention to the company’s earnings report, 1-800-FLOWERS.COM posted its quarterly results on August 31st. The specialty retailer reported an EPS (earnings per share) of ($0.28), surpassing the consensus estimate by $0.04 with a negative net margin of 2.22%. However, the firm experienced a decline in revenue, with sales totaling $398.80 million for the quarter compared to analyst estimates of $413.31 million.
Despite this decline, it is worth noting that 1-800-FLOWERS.COM exhibited a positive return on equity of 2.68%. Moreover, analysts forecast that the company will post an EPS of approximately 0.29 for the current year, showcasing optimism for future growth prospects.
Several equities research analysts have weighed in on shares of 1-800-FLOWERS.COM as well. DA Davidson reduced their target price from $11 to $7.50 and assigned a “neutral” rating for the company in a research note published on Wednesday.
Furthermore, StockNews.com recently initiated coverage on the stock and gave it a “hold” rating on Thursday, August 17th.
To summarize analysts’ sentiment, there are currently two hold ratings and two buy ratings for 1-800-FLOWERS.COM stock. Bloomberg.com reports that the average rating is “Moderate Buy,” with a consensus target price of approximately $12.50 per share.
The recent investment activity by hedge funds and institutional investors along with insider transactions and analysts’ assessments indicate an interesting landscape for 1-800-FLOWERS.COM moving forward as they seek to capitalize on their position in the specialty retail market.