The Manufacturers Life Insurance Company Cuts Stake in Fox Factory Holding Corp. (NASDAQ:FOXF)

The Manufacturers Life Insurance Company cut its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 53.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,295 shares of the company's stock after selling 27,045 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Fox Factory worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FOXF. Fifth Third Bancorp boosted its stake in Fox Factory by 26.5% in the second quarter. Fifth Third Bancorp now owns 1,245 shares of the company's stock valued at $60,000 after acquiring an additional 261 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Fox Factory by 31.8% during the 1st quarter. Covestor Ltd now owns 1,518 shares of the company's stock valued at $79,000 after acquiring an additional 366 shares in the last quarter. CWM LLC increased its stake in Fox Factory by 34.3% during the 2nd quarter. CWM LLC now owns 2,222 shares of the company's stock worth $107,000 after buying an additional 567 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Fox Factory by 37.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,318 shares of the company's stock worth $112,000 after purchasing an additional 635 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Fox Factory by 734.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,654 shares of the company's stock valued at $128,000 after buying an additional 2,336 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on FOXF. Bank of America dropped their target price on shares of Fox Factory from $53.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, September 12th. Truist Financial dropped their price objective on shares of Fox Factory from $55.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut their price target on Fox Factory from $48.00 to $45.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Finally, B. Riley lowered their price target on Fox Factory from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.17.

Fox Factory Price Performance

NASDAQ:FOXF traded up $1.21 during trading hours on Friday, hitting $40.28. The company's stock had a trading volume of 314,970 shares, compared to its average volume of 581,954. The stock has a fifty day simple moving average of $40.14 and a 200-day simple moving average of $44.13. The company has a market capitalization of $1.68 billion, a P/E ratio of 22.50, a PEG ratio of 2.67 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory Holding Corp. has a twelve month low of $34.56 and a twelve month high of $96.06.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The firm had revenue of $348.49 million for the quarter, compared to analyst estimates of $346.22 million. During the same period last year, the firm posted $1.21 earnings per share. The business's revenue for the quarter was down 13.0% on a year-over-year basis. On average, analysts anticipate that Fox Factory Holding Corp. will post 1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael C. Dennison acquired 4,800 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the acquisition, the chief executive officer now directly owns 135,066 shares in the company, valued at $5,597,135.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.30% of the stock is owned by insiders.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.