14.9% Stake of Tailored Brands Inc (TLRD) Maintained by Eminence Capital, LP
Eminence Capital, LP
stated that they own 14.9% of Tailored Brands Inc (NASDAQ:TLRD) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, March 20th. The investor owns 7,256,678 shares of the stock worth about $107,471,401. The reporting parties listed on the disclosure included Eminence Capital, LP, Eminence GP, LLC and Ricky C Sandler. The filing is available through EDGAR at this hyperlink.
Eminence Capital, LP
provided the following explanation of their ownership:
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Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frontier Capital Management Co. LLC increased its stake in Tailored Brands by 15.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,361,288 shares of the company’s stock valued at $34,781,000 after buying an additional 184,293 shares during the period. Scotia Capital Inc. acquired a new stake in Tailored Brands during the fourth quarter valued at $994,000. A.R.T. Advisors LLC increased its stake in Tailored Brands by 143.2% in the fourth quarter. A.R.T. Advisors LLC now owns 147,400 shares of the company’s stock valued at $3,766,000 after buying an additional 86,800 shares during the period. First Republic Investment Management Inc. acquired a new stake in Tailored Brands during the fourth quarter valued at $224,000. Finally, Two Sigma Investments LP increased its stake in Tailored Brands by 413.6% in the fourth quarter. Two Sigma Investments LP now owns 444,323 shares of the company’s stock valued at $11,352,000 after buying an additional 357,809 shares during the period.
Tailored Brands Inc (NASDAQ:TLRD) traded down 2.63% during mid-day trading on Monday, hitting $14.81. The stock had a trading volume of 1,077,117 shares. Tailored Brands Inc has a one year low of $10.90 and a one year high of $28.76. The company has a market cap of $721.50 million and a PE ratio of 29.04. The firm’s 50-day moving average price is $20.88 and its 200 day moving average price is $19.38.
Tailored Brands (NASDAQ:TLRD) last posted its quarterly earnings results on Wednesday, March 8th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.07. The company earned $793 million during the quarter, compared to analysts’ expectations of $811.36 million. During the same quarter in the previous year, the business posted ($0.30) EPS. Tailored Brands’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Tailored Brands Inc will post $1.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Tuesday, March 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.86%.
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Several analysts have recently weighed in on the company. Wunderlich set a $30.00 target price on Tailored Brands and gave the stock a “buy” rating in a research report on Thursday, December 8th. Zacks Investment Research downgraded Tailored Brands from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. Mizuho downgraded Tailored Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $18.00 in a research report on Thursday, March 9th. Jefferies Group LLC reiterated a “hold” rating and set a $24.00 target price on shares of Tailored Brands in a research report on Friday, December 9th. Finally, TheStreet upgraded Tailored Brands from a “d” rating to a “c” rating in a research report on Wednesday, March 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.80.
In other Tailored Brands news, Director B. Michael Becker purchased 3,980 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were purchased at an average cost of $26.21 per share, for a total transaction of $104,315.80. Following the completion of the purchase, the director now directly owns 15,221 shares in the company, valued at $398,942.41. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Eminence Capital, Lp purchased 1,110,000 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $22,200,000.00. The disclosure for this purchase can be found here.
Tailored Brands Company Profile
Tailored Brands, Inc is a holding company of The Men’s Wearhouse, Inc The Company is a specialty apparel retailer offering suits, suit separates, sport coats, slacks, business casual, sportswear, outerwear, dress shirts, shoes and accessories for men and tuxedo and suit rental product. It operates through two segments: Retail and Corporate Apparel.
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