Vera Bradley Inc. (NASDAQ:VRA) major shareholder Michael C. Ray sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $15.71, for a total value of $25,136.00. Following the completion of the sale, the insider now owns 282,262 shares of the company’s stock, valued at approximately $4,434,336.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Vera Bradley (NASDAQ:VRA) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Vera Bradley had a return on equity of 12.34% and a net margin of 6.63%. The business earned $119.20 million during the quarter. During the same quarter last year, the company earned $0.15 EPS. Vera Bradley’s revenue for the quarter was down 1.2% compared to the same quarter last year.
Several equities research analysts have recently commented on the company. Wunderlich cut their price target on Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. Zacks Investment Research upgraded Vera Bradley from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Cowen and Company restated a “market perform” rating and set a $18.00 price target on shares of Vera Bradley in a research note on Sunday, September 4th. Finally, Robert W. Baird restated a “neutral” rating and set a $18.00 price target on shares of Vera Bradley in a research note on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.75.
Large investors have recently added to or reduced their stakes in the company. Isthmus Partners LLC boosted its stake in Vera Bradley by 0.5% in the second quarter. Isthmus Partners LLC now owns 30,332 shares of the company’s stock valued at $430,000 after buying an additional 154 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Vera Bradley by 10.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,200 shares of the company’s stock valued at $102,000 after buying an additional 700 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Vera Bradley by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 69,196 shares of the company’s stock valued at $981,000 after buying an additional 882 shares during the last quarter. BlackRock Group LTD boosted its position in Vera Bradley by 4.3% in the second quarter. BlackRock Group LTD now owns 31,375 shares of the company’s stock valued at $444,000 after buying an additional 1,303 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Vera Bradley by 8.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 19,743 shares of the company’s stock valued at $280,000 after buying an additional 1,608 shares during the last quarter. Institutional investors and hedge funds own 55.34% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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