First Trust Advisors LP increased its holdings in Container Store Group Inc (NYSE:TCS) by 38.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,974 shares of the specialty retailer’s stock after purchasing an additional 10,531 shares during the quarter. First Trust Advisors LP’s holdings in Container Store Group were worth $168,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in TCS. Janney Montgomery Scott LLC purchased a new stake in Container Store Group in the 3rd quarter valued at approximately $44,000. Public Employees Retirement System of Ohio acquired a new stake in Container Store Group during the 2nd quarter valued at $70,000. Rhumbline Advisers increased its position in Container Store Group by 10.2% during the third quarter. Rhumbline Advisers now owns 24,547 shares of the specialty retailer’s stock worth $108,000 after buying an additional 2,270 shares in the last quarter. Paloma Partners Management Co purchased a new position in Container Store Group during the second quarter worth $139,000. Finally, Trexquant Investment LP purchased a new position in Container Store Group during the second quarter worth $153,000. Institutional investors and hedge funds own 82.95% of the company’s stock.
Several analysts have recently issued reports on TCS shares. Goldman Sachs Group upgraded Container Store Group from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $7.00 to $5.25 in a research report on Thursday, October 17th. ValuEngine lowered Container Store Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research cut Container Store Group from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 2nd. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $6.75.
Container Store Group (NYSE:TCS) last posted its quarterly earnings data on Tuesday, October 29th. The specialty retailer reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $236.40 million during the quarter, compared to analyst estimates of $231.99 million. Container Store Group had a net margin of 2.69% and a return on equity of 7.54%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. On average, analysts anticipate that Container Store Group Inc will post 0.42 EPS for the current year.
Container Store Group Company Profile
The Container Store Group, Inc engages in the retailing of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. Its retail stores provide various lifestyle products, including closets, collections, and hooks, as well as bath, kitchen, laundry, gift packaging, long-term storage, office, shelving, storage, trash, travel, and elfa branded products.
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