State Board of Administration of Florida Retirement System trimmed its holdings in Childrens Place Inc (NASDAQ:PLCE) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,228 shares of the company’s stock after selling 194 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Childrens Place were worth $594,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Childrens Place by 15.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,099 shares of the company’s stock valued at $105,000 after acquiring an additional 150 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Childrens Place during the 1st quarter valued at approximately $211,000. Everence Capital Management Inc. bought a new position in shares of Childrens Place during the 1st quarter valued at approximately $237,000. Wedbush Securities Inc. increased its position in shares of Childrens Place by 23.9% during the 2nd quarter. Wedbush Securities Inc. now owns 2,560 shares of the company’s stock valued at $244,000 after purchasing an additional 494 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in Childrens Place in the 1st quarter valued at $282,000.
Shares of Childrens Place stock traded up $3.10 on Thursday, hitting $87.91. The stock had a trading volume of 7,683 shares, compared to its average volume of 1,068,355. The company’s 50 day moving average price is $87.72 and its 200 day moving average price is $95.87. The company has a current ratio of 0.77, a quick ratio of 0.20 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.95 and a beta of 0.85. Childrens Place Inc has a 52-week low of $70.43 and a 52-week high of $160.23.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, September 20th. Childrens Place’s dividend payout ratio is presently 33.19%.
A number of equities analysts have recently issued reports on PLCE shares. Deutsche Bank raised Childrens Place from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Thursday, August 15th. B. Riley set a $122.00 price target on Childrens Place and gave the company a “buy” rating in a research note on Tuesday, May 14th. DA Davidson set a $135.00 target price on Childrens Place and gave the stock a “buy” rating in a report on Tuesday, August 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $126.00 target price (up from $100.00) on shares of Childrens Place in a report on Monday, May 13th. Finally, Citigroup raised their price objective on Childrens Place from $90.00 to $106.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Childrens Place has a consensus rating of “Buy” and an average price target of $116.00.
About Childrens Place
The Children's Place, Inc operates as a children's specialty apparel retailer. The company operates through two segments, The Children's Place U.S. and The Children's Place International. It sells apparel, footwear, accessories, and other items for children; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, and Baby Place brand names.
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