1-800 FLOWERS.COM, Inc. (FLWS) Sees Large Drop in Short Interest
1-800 FLOWERS.COM, Inc. (NASDAQ:FLWS) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 960,627 shares, a drop of 24.6% from the August 15th total of 1,274,576 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average trading volume of 256,525 shares, the days-to-cover ratio is currently 3.7 days.
Shares of 1-800 FLOWERS.COM (NASDAQ:FLWS) opened at 9.60 on Friday. 1-800 FLOWERS.COM has a 12-month low of $7.80 and a 12-month high of $11.40. The company’s 50 day moving average price is $9.15 and its 200 day moving average price is $9.81. The firm has a market cap of $626.44 million, a P/E ratio of 14.77 and a beta of 1.60.
1-800 FLOWERS.COM (NASDAQ:FLWS) last announced its earnings results on Thursday, August 24th. The specialty retailer reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). 1-800 FLOWERS.COM had a return on equity of 10.96% and a net margin of 3.69%. The company had revenue of $239.50 million during the quarter, compared to analysts’ expectations of $245.38 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that 1-800 FLOWERS.COM will post $0.47 EPS for the current year.
1-800 FLOWERS.COM declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 6th that authorizes the company to repurchase $15.00 million in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
FLWS has been the topic of several recent research reports. DA Davidson initiated coverage on 1-800 FLOWERS.COM in a report on Wednesday, June 14th. They set a “neutral” rating and a $11.00 price objective on the stock. FBR & Co initiated coverage on 1-800 FLOWERS.COM in a report on Tuesday, July 11th. They set an “outperform” rating and a $13.00 price objective on the stock. BidaskClub downgraded 1-800 FLOWERS.COM from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Benchmark Co. reissued a “buy” rating and set a $13.00 price objective on shares of 1-800 FLOWERS.COM in a report on Wednesday, August 23rd. Finally, Zacks Investment Research downgraded 1-800 FLOWERS.COM from a “hold” rating to a “sell” rating in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $12.14.
A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in 1-800 FLOWERS.COM by 67.1% during the first quarter. JPMorgan Chase & Co. now owns 9,785 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 3,929 shares during the period. Alambic Investment Management L.P. purchased a new stake in 1-800 FLOWERS.COM during the first quarter valued at about $104,000. Cigna Investments Inc. New purchased a new stake in 1-800 FLOWERS.COM during the second quarter valued at about $120,000. Karp Capital Management Corp purchased a new stake in 1-800 FLOWERS.COM during the first quarter valued at about $130,000. Finally, American International Group Inc. boosted its position in 1-800 FLOWERS.COM by 7.1% during the first quarter. American International Group Inc. now owns 16,036 shares of the specialty retailer’s stock valued at $164,000 after buying an additional 1,066 shares during the period. Institutional investors own 34.06% of the company’s stock.
1-800 FLOWERS.COM Company Profile
1-800-FLOWERS.COM, Inc is a provider of gourmet food and floral gifts for all occasions. The Company offers gifts for every occasion, including fresh flowers and a selection of plants, gift baskets, gourmet foods, confections, candles, balloons and stuffed animals. The Company operates through three business segments: Consumer Floral, Gourmet Food and Gift Baskets, and BloomNet Wire Service.
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