Geode Capital Management LLC Grows Stock Holdings in Rocky Brands, Inc. (NASDAQ:RCKY)

Geode Capital Management LLC grew its holdings in Rocky Brands, Inc. (NASDAQ:RCKY) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,315 shares of the textile maker’s stock after acquiring an additional 7,353 shares during the period. Geode Capital Management LLC’s holdings in Rocky Brands were worth $5,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RCKY. FMR LLC increased its holdings in Rocky Brands by 0.3% in the 3rd quarter. FMR LLC now owns 1,117,353 shares of the textile maker’s stock valued at $35,599,000 after purchasing an additional 3,883 shares in the last quarter. State Street Corp boosted its position in shares of Rocky Brands by 0.4% in the third quarter. State Street Corp now owns 134,249 shares of the textile maker’s stock worth $4,277,000 after buying an additional 586 shares during the period. American Century Companies Inc. grew its stake in shares of Rocky Brands by 23.0% in the second quarter. American Century Companies Inc. now owns 129,234 shares of the textile maker’s stock valued at $4,776,000 after buying an additional 24,135 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Rocky Brands by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,353 shares of the textile maker’s stock valued at $2,637,000 after buying an additional 2,962 shares during the period. Finally, Empowered Funds LLC grew its position in Rocky Brands by 5.0% in the third quarter. Empowered Funds LLC now owns 30,994 shares of the textile maker’s stock valued at $987,000 after acquiring an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

RCKY has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

Rocky Brands Stock Performance

Shares of NASDAQ RCKY opened at $22.99 on Friday. The company has a quick ratio of 0.93, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $22.41 and its two-hundred day moving average price is $28.46. Rocky Brands, Inc. has a 52-week low of $19.65 and a 52-week high of $40.14. The stock has a market capitalization of $171.37 million, a P/E ratio of 12.92 and a beta of 2.10.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.22). Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%. The business had revenue of $114.55 million for the quarter.

Rocky Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.62 dividend on an annualized basis and a yield of 2.70%. Rocky Brands’s dividend payout ratio is presently 34.83%.

Rocky Brands Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.