Key Points
- CEO Gianluca Ambrogio Tagliabue sold 19,105 shares of Ermenegildo Zegna stock on May 8 for about $250,657.60 at an average price of $13.12 per share. The sale reduced his holdings by 10.23%, and the company said it was to cover tax withholding obligations tied to equity award vesting.
- The company recently reported weaker-than-expected quarterly results, with earnings of $0.15 per share versus the $0.26 analysts expected and revenue of $577.83 million versus a $1.17 billion forecast. Analysts currently expect Zegna to post $0.46 EPS for the full year.
- Wall Street sentiment is mixed but slightly positive, with four analysts rating the stock Buy and four Hold; the consensus price target is $12.26. Zegna also declared an annual dividend of $0.12 per share, payable July 29, though the article lists an unusually high yield figure.
Ermenegildo Zegna N.V. (NYSE:ZGN - Get Free Report) CFO Gian Franco Santhia sold 5,768 shares of Ermenegildo Zegna stock in a transaction on Friday, May 8th. The stock was sold at an average price of $13.12, for a total value of $75,676.16. Following the transaction, the chief financial officer directly owned 44,448 shares of the company's stock, valued at approximately $583,157.76. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ermenegildo Zegna Price Performance
Shares of NYSE ZGN opened at $12.50 on Tuesday. Ermenegildo Zegna N.V. has a 52 week low of $7.61 and a 52 week high of $13.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.59 and a quick ratio of 0.91. The company's 50-day moving average price is $11.05 and its 200 day moving average price is $10.59.
Ermenegildo Zegna (NYSE:ZGN - Get Free Report) last issued its quarterly earnings data on Friday, March 20th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.11). The firm had revenue of $577.83 million for the quarter, compared to analyst estimates of $1.17 billion. As a group, sell-side analysts expect that Ermenegildo Zegna N.V. will post 0.46 EPS for the current fiscal year.
Ermenegildo Zegna Cuts Dividend
The company also recently announced an annual dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Monday, July 6th will be issued a $0.12 dividend. This represents a yield of 99.0%. The ex-dividend date is Monday, July 6th.
Analysts Set New Price Targets
A number of analysts have issued reports on ZGN shares. Weiss Ratings reissued a "hold (c)" rating on shares of Ermenegildo Zegna in a research note on Monday, April 20th. UBS Group reiterated a "buy" rating and issued a $14.50 price target on shares of Ermenegildo Zegna in a report on Friday, May 1st. TD Cowen lifted their price objective on shares of Ermenegildo Zegna from $11.00 to $13.00 and gave the company a "hold" rating in a research note on Friday, May 1st. Morgan Stanley assumed coverage on Ermenegildo Zegna in a research report on Thursday, February 12th. They set an "equal weight" rating and a $11.00 target price on the stock. Finally, Bank of America reaffirmed a "neutral" rating and issued a $11.20 price target (down from $11.50) on shares of Ermenegildo Zegna in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.26.
Check Out Our Latest Research Report on ZGN
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of ZGN. Vident Advisory LLC grew its holdings in Ermenegildo Zegna by 6.5% in the 4th quarter. Vident Advisory LLC now owns 18,001 shares of the company's stock worth $185,000 after buying an additional 1,097 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in Ermenegildo Zegna by 12.9% during the third quarter. Orion Porfolio Solutions LLC now owns 11,583 shares of the company's stock valued at $109,000 after buying an additional 1,323 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Ermenegildo Zegna by 3.3% in the 4th quarter. Deutsche Bank AG now owns 57,477 shares of the company's stock worth $589,000 after purchasing an additional 1,822 shares during the last quarter. CWM LLC acquired a new position in Ermenegildo Zegna in the third quarter worth approximately $25,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Ermenegildo Zegna by 73.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,146 shares of the company's stock worth $61,000 after acquiring an additional 3,033 shares during the last quarter. Institutional investors own 12.91% of the company's stock.
About Ermenegildo Zegna
(
Get Free Report)
Ermenegildo Zegna is a global luxury fashion house specializing in men's tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.
Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
