Posted by MarketBeat News on Jul 21st, 2022

Strs Ohio increased its stake in shares of The Container Store Group, Inc. (NYSE:TCS – Get Rating) by 2,075.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,700 shares of the specialty retailer’s stock after buying an additional 8,300 shares during the quarter. Strs Ohio’s holdings in The Container Store Group were worth $71,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of The Container Store Group during the fourth quarter worth approximately $52,000. Retirement Planning Co of New England Inc. acquired a new stake in The Container Store Group during the 4th quarter valued at $52,000. Denali Advisors LLC raised its position in The Container Store Group by 33.9% in the 1st quarter. Denali Advisors LLC now owns 7,500 shares of the specialty retailer’s stock valued at $61,000 after purchasing an additional 1,900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in The Container Store Group in the fourth quarter worth $88,000. Finally, Highlander Partners L.P. bought a new stake in shares of The Container Store Group during the fourth quarter worth $100,000. Institutional investors and hedge funds own 84.83% of the company’s stock.

The Container Store Group stock opened at $7.15 on Thursday. The business’s 50-day simple moving average is $7.14 and its 200 day simple moving average is $8.24. The company has a quick ratio of 0.29, a current ratio of 1.11 and a debt-to-equity ratio of 0.37. The stock has a market cap of $368.46 million, a price-to-earnings ratio of 4.41 and a beta of 1.31. The Container Store Group, Inc. has a 12-month low of $6.19 and a 12-month high of $14.25.

The Container Store Group (NYSE:TCS – Get Rating) last issued its earnings results on Tuesday, May 17th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.14. The company had revenue of $305.55 million for the quarter, compared to analyst estimates of $281.32 million. The Container Store Group had a net margin of 7.47% and a return on equity of 20.73%. During the same quarter last year, the firm earned $0.71 EPS. As a group, research analysts anticipate that The Container Store Group, Inc. will post 1.25 earnings per share for the current year.

TCS has been the subject of a number of research analyst reports. Lake Street Capital started coverage on The Container Store Group in a report on Wednesday, April 13th. They issued a “buy” rating and a $10.00 price target for the company. The Goldman Sachs Group reduced their target price on shares of The Container Store Group from $11.50 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Finally, StockNews.com lowered shares of The Container Store Group from a “buy” rating to a “hold” rating in a report on Thursday, June 30th.

In related news, CEO Satish Malhotra purchased 14,600 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of $6.83 per share, with a total value of $99,718.00. Following the purchase, the chief executive officer now directly owns 466,801 shares in the company, valued at approximately $3,188,250.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 33.40% of the company’s stock.

The Container Store Group, Inc operates as a retailer of storage and organization products and solutions in the United States. The company operates in two segments, The Container Store and Elfa. It provides approximately 11,000 products designed to help customers. Its merchandise category includes custom closets, such as elfa Classic, elfa Decor, Laren, and Avera branded products, as well as closet lifestyle department and wood-based products; wood-based custom home storage and organization solutions; and customized solutions for closets, garages, home offices, pantries, laundry rooms, murphy beds, and built-in wall units.

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