Will Saks’s In-Line EPS Comfort These Top Institutional Shareholders?

Saks Incorporated (NYSE:SKS) reported a third quarter earnings per share of $0.12, in-line with expectations. However, at $713.2 million, revenue missed by $13 million. Same-store sales grew 3.3% on a quarterly basis, but came on top of a respectable 5.8% increase in the prior year third-quarter. The gross margin rate was 43.9% compared to 44.2% in the quarter a year ago and fell mostly due to an increased promotional activity. The company closed the quarter with cash in hand of $74.2 million.

Will Saks Incorporated’s shareholders increase their holdings?They reported owning a total of 93.196 million shares on 09/30/2012. The shares closed at $10.31 on 09/30/2012.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Here are the eight largest positions in Saks Incorporated at the end of September 30th, 2012.

Zazove Associates LLC. held 25,649,000 shares on 09/30/2012 worth $26,707,000. This brought the portfolio total to 0.68%.

Advent Capital Management /DE/ held 19,567,000 shares on 09/30/2012 worth $20,331,000. This brought the portfolio total to 0.39%.

Lazard Asset Management LLC. held 7,500,000 shares on 09/30/2012 worth $7,776,000. This brought the portfolio total to 0.02%.

Fisher Asset Management LLC. held 6,219,985 shares on 09/30/2012 worth $64,128,048. This brought the portfolio total to 0.18%.

Blackrock Fund Advisors held 4,034,755 shares on 09/30/2012 worth $41,598,326. This brought the portfolio total to 0.02%.

Bank of New York Mellon Corp. held 3,759,163 shares on 09/30/2012 worth $38,756,972. This brought the portfolio total to 0.01%.

J.P Morgan Chase & Co. held 3,320,000 shares on 09/30/2012 worth $3,442,000. This brought the portfolio total to 0.0%.

Pictet Asset Management Ltd. held 1,912,070 shares on 09/30/2012 worth $19,713,443. This brought the portfolio total to 0.16%.

Knowing which stocks have institutional support will help improve your investing skills, and teach you how to ride the waves of strong moves. In fact, “S = Support is Provided By Institutional Investors & Company Insiders” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.