BlackRock Fund Advisors recently announced the acquisition of new stake in Chico’s FAS Inc. (NYSE:CHS). The institutional investor has increased its shareholding in the Consumer Cyclical company by 10.49% to 20.96 million shares with purchase of 1.99 million shares. This fresh investment now brings its stake to 16.76% valued currently at $120.5 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.2 million to 9.03 million shares. And SSgA Funds Management, Inc. has lifted its position by 5.49% or 0.28 million shares – to 5.36 million shares.
With over 2.78 million Chico’s FAS Inc. (CHS) shares trading Monday and a closing price of $5.86 on the day, the dollar volume was approximately $16.27 million. The shares have shown a positive half year performance of 8.92% and its price on 03/13/23 lost nearly -3.30%. Currently, there are 125.07M common shares owned by the public and among those 120.31M shares have been available to trade.
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Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 193,704 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 801,357 shares.
The top 3 mutual fund holders in Chico’s FAS Inc. are iShares Core S&P Small Cap ETF, Contrarius ICAV – Global Equity F, and Pacer Fds. Tr. – US Small Cap Cas. iShares Core S&P Small Cap ETF owns 9.37 million shares of the company’s stock, all valued at over $53.88 million. Contrarius ICAV – Global Equity F sold -3.4 million shares to see its total holdings shrink to 6.26 million shares valued at over $35.98 million and representing 5.00% of the shares outstanding. Pacer Fds. Tr. – US Small Cap Cas bought 31112.0 shares to bring its total holdings to over 3.81 million shares at a value of $21.92 million. Pacer Fds. Tr. – US Small Cap Cas now owns shares totaling to 3.05% of the shares outstanding.
Shares of Chico’s FAS Inc. (NYSE: CHS) opened at $5.88, down -$0.18 from a prior closing price of $6.06. However, the script later moved the day high at 5.99, down -3.30%. The company’s stock has a 5-day price change of -4.09% and -2.66% over the past three months. CHS shares are trading 19.11% year to date (YTD), with the 12-month market performance up to 42.93% higher. It has a 12-month low price of $3.80 and touched a high of $7.30 over the same period. CHS has an average intraday trading volume of 2.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.50%, 12.61%, and 7.54% respectively.
Institutional ownership of Chico’s FAS Inc. (NYSE: CHS) shares accounts for 90.30% of the company’s 125.07M shares outstanding. Mutual fund holders own 37.26%, while other institutional holders and individual stakeholders account for 54.21% and 10.28% respectively.
It has a market capitalization of $731.74M and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 6.73, while the earnings-per-share (ttm) stands at $0.87. The company has a PEG of 0.67 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.46% over the week and 4.91% over the month.
Analysts forecast that Chico’s FAS Inc. (CHS) will achieve an EPS of $0 for the current quarter, $0.3 for the next quarter and $0.95 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was $0.09 a year ago. Earnings per share for the fiscal year are expected to increase by 112.10%, and 12.36% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to -11.50% over the past 5-year period.
Looking at the support for the CHS, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on November 17, 2020, with the firm’s price target at $1.50. Telsey Advisory Group coverage for the Chico’s FAS Inc. (CHS) stock in a research note released on November 27, 2019 offered a Market Perform rating with a price target of $5. Telsey Advisory Group was of a view on August 29, 2019 that the stock is Market Perform, while Telsey Advisory Group gave the stock Market Perform rating on June 12, 2019, issuing a price target of $5- $4. BofA/Merrill on their part issued Underperform rating on November 29, 2018.
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