State Street Corp Acquires New Stake in Smith & Wesson Brands (NASDAQ:SWBI)

State Street Corp acquired a new stake in Smith & Wesson Brands (NASDAQ:SWBI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,001,698 shares of the company’s stock, valued at approximately $8,314,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado increased its holdings in Smith & Wesson Brands by 9.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 12,172 shares of the company’s stock valued at $101,000 after purchasing an additional 1,079 shares during the period. Bank of New York Mellon Corp increased its holdings in Smith & Wesson Brands by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 259,505 shares of the company’s stock valued at $2,408,000 after purchasing an additional 1,163 shares during the period. Swiss National Bank increased its holdings in Smith & Wesson Brands by 1.4% in the first quarter. Swiss National Bank now owns 106,350 shares of the company’s stock valued at $883,000 after purchasing an additional 1,500 shares during the period. Roman Butler Fullerton & Co. increased its holdings in Smith & Wesson Brands by 7.1% in the first quarter. Roman Butler Fullerton & Co. now owns 45,420 shares of the company’s stock valued at $377,000 after purchasing an additional 3,000 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Smith & Wesson Brands in the fourth quarter valued at $7,535,000. Institutional investors and hedge funds own 66.70% of the company’s stock.

A number of analysts have commented on SWBI shares. Lake Street Capital upped their price target on shares of Smith & Wesson Brands from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. ValuEngine downgraded shares of Smith & Wesson Brands from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Craig Hallum raised their price objective on shares of Smith & Wesson Brands from $14.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Wedbush raised their price target on shares of Smith & Wesson Brands from $8.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Zacks Investment Research raised shares of Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Tuesday, June 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.20.

Shares of NASDAQ:SWBI opened at $23.89 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of -21.33 and a beta of 0.80. The company’s fifty day moving average is $22.33 and its 200 day moving average is $14.59. Smith & Wesson Brands has a 52 week low of $5.41 and a 52 week high of $25.17. The company has a quick ratio of 1.78, a current ratio of 3.05 and a debt-to-equity ratio of 0.51.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its earnings results on Thursday, June 18th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.17. The company had revenue of $233.64 million for the quarter, compared to analysts’ expectations of $207.91 million. Smith & Wesson Brands had a negative net margin of 9.03% and a positive return on equity of 10.61%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Sell-side analysts anticipate that Smith & Wesson Brands will post 1.85 EPS for the current year.

In other Smith & Wesson Brands news, Director Mitchell A. Saltz sold 6,914 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $14.99, for a total value of $103,640.86. Following the transaction, the director now owns 18,456 shares in the company, valued at $276,655.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Jean Cupero sold 1,385 shares of Smith & Wesson Brands stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $18.28, for a total transaction of $25,317.80. Following the sale, the insider now directly owns 15,866 shares in the company, valued at approximately $290,030.48. The disclosure for this sale can be found here. Insiders sold 29,299 shares of company stock worth $358,959 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers firearms products, such as revolvers and pistols; modern sporting rifles, bolt action rifles, and muzzleloaders; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms, and Gemtech brands.

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Institutional Ownership by Quarter for Smith & Wesson Brands (NASDAQ:SWBI)

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