Zacks Investment Research downgraded shares of CSS Industries (NYSE:CSS) from a hold rating to a strong sell rating in a report issued on Wednesday.
According to Zacks, “CSS Industries, Inc. is a consumer products company primarily engaged in the manufacture and sale to mass market retailers of seasonal, social expression products, including gift wrap, gift bags, boxed greeting cards, gift tags, tissue paper, paper and vinyl decorations, seasonal candles, classroom exchange Valentines, decorative ribbons and bows, Halloween masks, costumes, make-ups and novelties and Easter egg dyes and novelties. CSS provides its retail customers the opportunity to use a single vendor for much of their seasonal product requirements. “
Separately, DA Davidson initiated coverage on shares of CSS Industries in a report on Thursday, December 7th. They set a buy rating and a $31.50 target price on the stock.
CSS Industries (NYSE:CSS) last posted its quarterly earnings results on Thursday, February 8th. The specialty retailer reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.15. CSS Industries had a negative net margin of 0.96% and a positive return on equity of 4.51%. The company had revenue of $130.64 million for the quarter, compared to analysts’ expectations of $134.50 million. research analysts expect that CSS Industries will post 1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 4.13%. CSS Industries’s payout ratio is -216.22%.
In other CSS Industries news, Director Rebecca C. Matthias bought 20,100 shares of the stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $20.95 per share, with a total value of $421,095.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. grew its position in shares of CSS Industries by 1,234.1% during the 4th quarter. Macquarie Group Ltd. now owns 17,143 shares of the specialty retailer’s stock valued at $477,000 after purchasing an additional 15,858 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of CSS Industries by 17.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,058 shares of the specialty retailer’s stock valued at $1,060,000 after purchasing an additional 5,755 shares in the last quarter. QS Investors LLC purchased a new position in shares of CSS Industries during the 4th quarter valued at $230,000. Deutsche Bank AG grew its position in shares of CSS Industries by 273.3% during the 4th quarter. Deutsche Bank AG now owns 55,369 shares of the specialty retailer’s stock valued at $1,538,000 after purchasing an additional 40,535 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of CSS Industries during the 4th quarter valued at $1,060,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.
About CSS Industries
CSS Industries, Inc is a consumer products company, which is engaged in the design, manufacture, procurement, distribution and sale of non-durable all occasion and seasonal social expression products, principally to mass market retailers in the United States and Canada. The Company’s occasion and seasonal products include classroom exchange Valentines, infant products, journals, buttons, gift wrap, floral accessories, craft and educational products, Easter egg dyes and novelties, memory books, scrapbooks, stickers, stationery and other items.
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