GAM Holding AG has recently made headlines by acquiring a new position in Canada Goose Holdings Inc. (NYSE: GOOS) during the second quarter of the year. According to their latest Form 13F filing with the Securities and Exchange Commission, the fund purchased 100,000 shares of the company, valued at around $1,119,000. This acquisition positions GAM Holding AG as owning approximately 0.10% of Canada Goose.
The move by GAM is part of a larger trend, as other prominent investors have been actively buying and selling shares of Canada Goose. Jump Financial LLC, for instance, acquired a new stake valued at $221,000 in the first quarter. The Manufacturers Life Insurance Company also boosted its stake by 0.7%, now holding approximately 5,363,960 shares worth $42.64 million after acquiring an additional 39,012 shares. Other notable investors include Graham Capital Management L.P., which increased its holding by 43.8%, and Landscape Capital Management L.L.C., which made a significant move, upping their stock ownership by 169.2%.
Currently, institutional investors hold about 83.64% of Canada Goose stock, reflecting a strong interest in the company among larger investment entities.
In terms of analyst sentiment, recent evaluations have shown mixed ratings for Canada Goose. Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on August 2nd. However, TD Cowen enhanced their stance, moving Canada Goose from a “hold” to a “buy” rating and increased their price target to $18.00. Similarly, Baird R W rated the stock as a “strong-buy,” setting a target price of $28.00. On balance, analysts have issued one Strong Buy, four Buy, three Hold, and two Sell ratings. The overall consensus suggests a “Hold” rating, with an average price target set at $15.00.
As of the latest trading day, shares of GOOS opened at $13.90. The company holds a market capitalization of approximately $1.35 billion with a P/E ratio of 40.88. Over the past year, the stock has fluctuated between a low of $6.73 and a high of $15.43. The stock’s fifty-day moving average is $13.62, while the 200-day average stands at $11.97.
In its most recent earnings report from July 31st, Canada Goose reported an EPS of ($0.66), missing estimates slightly. Revenue reached $77.91 million, surpassing expectations of $68.33 million, while the company is projected to post earnings per share of 0.7 for the current fiscal year.
Canada Goose Holdings Inc. specializes in the design, manufacture, and sale of luxury performance apparel for a broad demographic including men, women, and children, operating across several international markets.
As the company navigates a challenging economic landscape, the infusion of interest from institutional investors and positive analyst revisions could indicate a potential for recovery and growth in the future.