Rocky Brands (NASDAQ:RCKY) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Rocky Brands (NASDAQ:RCKY) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, Robert W. Baird cut their price target on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st.

Rocky Brands Stock Down 0.4 %

Shares of NASDAQ RCKY opened at $23.40 on Friday. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $23.46 and a 200-day moving average of $26.36. The firm has a market capitalization of $174.42 million, a price-to-earnings ratio of 13.15 and a beta of 2.10. Rocky Brands has a 12 month low of $19.65 and a 12 month high of $40.14.

Rocky Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Tuesday, December 3rd. Rocky Brands’s payout ratio is currently 34.83%.

Hedge Funds Weigh In On Rocky Brands

A number of large investors have recently modified their holdings of RCKY. Diamond Hill Capital Management Inc. boosted its stake in Rocky Brands by 0.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 113,958 shares of the textile maker’s stock worth $2,598,000 after buying an additional 507 shares in the last quarter. State Street Corp boosted its stake in shares of Rocky Brands by 0.4% in the 3rd quarter. State Street Corp now owns 134,249 shares of the textile maker’s stock valued at $4,277,000 after purchasing an additional 586 shares in the last quarter. Yarger Wealth Strategies LLC grew its holdings in shares of Rocky Brands by 6.0% during the 4th quarter. Yarger Wealth Strategies LLC now owns 10,873 shares of the textile maker’s stock valued at $248,000 after purchasing an additional 614 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Rocky Brands by 9.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 9,228 shares of the textile maker’s stock worth $210,000 after purchasing an additional 820 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rocky Brands by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,999 shares of the textile maker’s stock worth $669,000 after purchasing an additional 1,001 shares during the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

About Rocky Brands

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.