Kennedy Capital Management LLC has increased its holdings in Winmark Corporation (NASDAQ: WINA) by 10.1% during the second quarter, as disclosed in a recent filing with the Securities and Exchange Commission (SEC). After acquiring an additional 1,928 shares, the fund now owns a total of 20,965 shares valued at approximately $7.9 million.
Several other institutional investors have also adjusted their positions in Winmark recently. Hsbc Holdings PLC initiated a new position in the company in the first quarter, valued at about $233,000. Russell Investments Group Ltd. significantly raised its stake by 115.0%, now owning 2,574 shares valued at $818,000 after purchasing 1,377 additional shares in the last quarter. Similarly, Northstar Asset Management Inc. increased its holdings by 94.1%, owning 5,923 shares valued at $1.88 million after acquiring 2,871 shares during the same period. Creative Planning also boosted its position by 38.2%, owning 5,227 shares worth $1.97 million after purchasing an additional 1,445 shares in the second quarter. Additionally, Raymond James Financial Inc. grew its stake by 11.3%, now holding 34,176 shares valued at approximately $10.86 million. Institutional investors and hedge funds together own 73.32% of Winmark’s stock.
Analyst Ratings and Stock Performance
In other developments, Weiss Ratings upgraded Winmark shares from a “hold (C+)” rating to a “buy (B-)” rating in a research note published on October 24, 2023. Currently, one investment analyst has rated the stock as a “buy,” contributing to an average rating of “buy” based on data from MarketBeat.com.
As of October 27, 2023, WINA stock opened at $428.02. Winmark Corporation has a 52-week low of $295.79 and a high of $527.37. The company’s market capitalization stands at $1.52 billion, with a price-to-earnings (P/E) ratio of 38.15 and a beta of 0.69. Its 50-day and 200-day simple moving averages are $434.76 and $427.33, respectively.
Winmark recently announced its quarterly earnings results on October 15, 2023. The specialty retailer reported earnings per share (EPS) of $3.02, missing analysts’ consensus estimates of $3.22 by $0.20. The firm recorded a net margin of 48.84% and a negative return on equity of 103.08%. Revenue for the quarter came in at $22.63 million, surpassing expectations of $20.19 million.
Dividend Declaration and Insider Activity
Winmark has also declared a quarterly dividend, which was paid on December 1, 2023. Investors of record on November 12, 2023, received a dividend of $0.96 per share, representing an annualized dividend of $3.84 and a yield of 0.9%. The ex-dividend date was also November 12, 2023, and the company’s payout ratio currently stands at 34.22%.
In related news, Director Lawrence A. Barbetta sold 852 shares of Winmark stock on September 17, 2023, at an average price of $505.02, totaling $430,277.04. Following this transaction, he retained 649 shares valued at approximately $327,757.98, indicating a 56.76% decrease in his position. This sale was disclosed in a filing with the SEC. Additionally, Chief Operating Officer Renae M. Gaudette sold 1,200 shares on October 24, 2023, at an average price of $417.11, resulting in a transaction value of $500,532.00. Post-sale, she owns 18,860 shares valued at around $7.87 million, reflecting a 5.98% decrease in her position. Insider ownership currently stands at 10.10% of the stock.
Winmark Corporation operates as a franchisor for small businesses in the United States and Canada, specializing in retail store concepts that buy, sell, and trade merchandise. It also runs a middle-market equipment leasing business and operates under the Plato’s Closet and Once Upon A Child brands, focusing on used clothing and accessories for teens and young adults, as well as children’s merchandise.
For further updates on Winmark and institutional holdings, interested parties can refer to HoldingsChannel.com for the latest 13F filings and insider trades.
