California Public Employees Retirement System Has $4.21 Million Stake in Childrens Place Inc (PLCE)

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California Public Employees Retirement System lowered its stake in shares of Childrens Place Inc (NASDAQ:PLCE) by 9.4% during the 2nd quarter, Holdings Channel reports. The firm owned 34,862 shares of the company’s stock after selling 3,615 shares during the quarter. California Public Employees Retirement System’s holdings in Childrens Place were worth $4,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in shares of Childrens Place by 11.6% during the 2nd quarter. Alps Advisors Inc. now owns 4,072 shares of the company’s stock valued at $592,000 after purchasing an additional 423 shares during the last quarter. Legal & General Group Plc increased its position in shares of Childrens Place by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 36,511 shares of the company’s stock valued at $4,456,000 after purchasing an additional 427 shares during the last quarter. Sapphire Star Partners LP grew its position in Childrens Place by 7.2% in the 2nd quarter. Sapphire Star Partners LP now owns 6,974 shares of the company’s stock valued at $842,000 after acquiring an additional 470 shares during the last quarter. Eqis Capital Management Inc. grew its position in Childrens Place by 17.8% in the 2nd quarter. Eqis Capital Management Inc. now owns 3,156 shares of the company’s stock valued at $381,000 after acquiring an additional 477 shares during the last quarter. Finally, Putnam Investments LLC grew its position in Childrens Place by 0.6% in the 2nd quarter. Putnam Investments LLC now owns 82,617 shares of the company’s stock valued at $9,980,000 after acquiring an additional 500 shares during the last quarter.

In other Childrens Place news, insider Jane T. Elfers sold 100,000 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $134.93, for a total value of $13,493,000.00. Following the completion of the sale, the insider now directly owns 141,491 shares in the company, valued at approximately $19,091,380.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Several brokerages have commented on PLCE. ValuEngine raised Childrens Place from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Citigroup upped their price objective on Childrens Place from $145.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, August 24th. BidaskClub raised Childrens Place from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Monness Crespi & Hardt raised Childrens Place from a “neutral” rating to a “buy” rating and set a $165.00 price objective on the stock in a research report on Friday, August 24th. They noted that the move was a valuation call. Finally, Bank of America raised Childrens Place from an “underperform” rating to a “neutral” rating in a research report on Tuesday, October 2nd. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $148.91.

Shares of PLCE stock opened at $133.89 on Friday. Childrens Place Inc has a twelve month low of $99.90 and a twelve month high of $161.65. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.05 and a beta of 0.42.

Childrens Place (NASDAQ:PLCE) last issued its earnings results on Thursday, August 23rd. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. Childrens Place had a return on equity of 33.17% and a net margin of 3.76%. The business had revenue of $448.70 million during the quarter, compared to analysts’ expectations of $427.89 million. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, sell-side analysts predict that Childrens Place Inc will post 8.23 earnings per share for the current fiscal year.

About Childrens Place

The Children’s Place, Inc engages in the provision of apparel, accessories and footwear for children. It also designs, contracts to manufacture and sell fashionable and value-priced merchandise under the brand names of The Children’s Place, Place and Baby Place. The company was founded in 1969 and is headquartered in Secaucus, NJ.

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Institutional Ownership by Quarter for Childrens Place (NASDAQ:PLCE)

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