State of Tennessee Treasury Department raised its position in Vera Bradley, Inc. (NASDAQ:VRA) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,181 shares of the textile maker’s stock after purchasing an additional 5,178 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Vera Bradley worth $274,000 as of its most recent filing with the SEC.
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Other large investors have also recently modified their holdings of the company. Aperio Group LLC bought a new stake in Vera Bradley in the second quarter valued at approximately $37,000. Sterling Investment Advisors Ltd. bought a new stake in shares of Vera Bradley during the second quarter worth $48,000. Meeder Asset Management Inc. increased its position in shares of Vera Bradley by 871.2% during the third quarter. Meeder Asset Management Inc. now owns 7,546 shares of the textile maker’s stock worth $75,000 after acquiring an additional 6,769 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Vera Bradley during the first quarter worth $100,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Vera Bradley during the third quarter worth $111,000. 66.79% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Vera Bradley from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. ValuEngine raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. BidaskClub raised shares of Vera Bradley from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group lowered their price objective on shares of Vera Bradley from $13.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Vera Bradley currently has an average rating of “Hold” and an average target price of $11.00.
Shares of VRA stock opened at $11.26 on Monday. Vera Bradley, Inc. has a 12-month low of $7.94 and a 12-month high of $14.51. The firm has a fifty day moving average of $10.85 and a 200-day moving average of $10.93. The company has a market capitalization of $371.83 million, a price-to-earnings ratio of 19.08 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 2.15 and a debt-to-equity ratio of 0.42.
Vera Bradley (NASDAQ:VRA) last announced its earnings results on Wednesday, September 4th. The textile maker reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02). Vera Bradley had a return on equity of 6.55% and a net margin of 3.82%. The business had revenue of $119.79 million for the quarter, compared to analyst estimates of $117.35 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Vera Bradley, Inc. will post 0.89 EPS for the current year.
In other news, insider Robert Wallstrom purchased 5,434 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $9.19 per share, for a total transaction of $49,938.46. Following the completion of the purchase, the insider now directly owns 270,306 shares in the company, valued at approximately $2,484,112.14. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder B. Baekgaard 2009 Gran Barbara sold 28,912 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.91, for a total transaction of $315,429.92. Following the completion of the sale, the insider now owns 2,430,378 shares of the company’s stock, valued at approximately $26,515,423.98. The disclosure for this sale can be found here. Corporate insiders own 27.30% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.
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