Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Steve Leonard, Pacifica Capital Investments Add to R.G. Barry Corp. (DFZ) Position

Steve Leonard and his fund, Pacifica Capital Investments, are betting big on R.G. Barry Corp. (NASDAQ:DFZ). According to a recent filing with the Securities and Exchange Commission, Pacifica has increased its holding of R.G. Barry stock from 522,260 shares  to approximately 1.2 million shares. The fund’s new position accounts for 11.32% of the company’s common stock.


Chuck Royce, the manager of Royce & Associates is also bullish on this stock. During the third quarter of 2013, Royce & Associates have increased their holding of R.G. Barry Corp. (NASDAQ:DFZ) stock to 1.45 million shares valued at $27.5 million. Jim Simons has increased his fund’s exposure to R.G. Barry by 8%. Renaissance Technologies currently holds 319,800 shares reportedly worth a little over $6 million. Cliff Asness and Aqr Capital Management are also keeping tabs, with the fund holding 53,785 shares valued at $1 million.

R.G. Barry Corp. (NASDAQ:DFZ) engages in the production and sale of footwear and accessories. From the start of the year the stock has advanced 24% to a current price of $19.07. R.G. Barry has a market cap of $217 million and shares are traded at a Price to Earnings (P/E) ratio of 18.66. The stock has a beta of 0.21 and pays an annual dividend of $0.36, which represents a yield of 1.9%.

For the quarter ended September 28, 2013, R.G. Barry reported revenues of $41.9 million and Earnings Per Share (EPS) of $0.41, a 22.4% year-over-year decrease.  Greg Tunney, President and Chief Executive Officer, said:

We are obviously disappointed in our first quarter results, but ours has never been a quarter-to-quarter business. Holiday shipments to retailers can occur in either the first or second quarter, based upon retailer needs; and retail sell-through during the Christmas season has significant impact on our rate of profitability. We are working with our customers to maximize our in-store performance between now and December 31

Analysts expect the company to perform better in the current quarter. They expect revenues of $51 million and EPS of $0.47. The stock price is expected to rise to a mean target of $21.5 per share.

Disclosure: nine

Recommended reading:

Edward Lampert, ESL Investments Continue Timming Their AutoNation, Inc. (AN) Stake

Solus Alternative Asset Management Goes Activist on YRC Worldwide (YRCW)

Hedge Fund News: David Einhorn, Whitney Tilson & Warren Buffett

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!