Alliancebernstein L.P. Increases Stake in Franklin Covey Company $FC

Key Points

• Alliancebernstein L.P. increased its holdings in Franklin Covey Company by 4.4%, now owning about 641,620 shares valued at approximately $17.72 million.
• According to brokerage reports, Franklin Covey's price target has been reduced to $27.00 by multiple analysts, while the stock maintains a "Buy" rating.
• Franklin Covey reported earnings of $0.18 per share for the latest quarter, exceeding the consensus estimate, though revenues slightly fell short of expectations.

Alliancebernstein L.P. grew its holdings in shares of Franklin Covey Company (NYSE:FC - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641,620 shares of the business services provider's stock after purchasing an additional 27,119 shares during the period. Alliancebernstein L.P. owned about 4.94% of Franklin Covey worth $17,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FC. Royce & Associates LP lifted its holdings in shares of Franklin Covey by 564.6% during the 1st quarter. Royce & Associates LP now owns 935,669 shares of the business services provider's stock worth $25,843,000 after acquiring an additional 794,876 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Franklin Covey by 3,724.8% during the first quarter. Russell Investments Group Ltd. now owns 156,127 shares of the business services provider's stock valued at $4,312,000 after acquiring an additional 152,045 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Franklin Covey during the first quarter worth $2,579,000. Lazard Asset Management LLC raised its stake in Franklin Covey by 156.3% during the fourth quarter. Lazard Asset Management LLC now owns 60,459 shares of the business services provider's stock worth $2,272,000 after buying an additional 36,867 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Franklin Covey in the first quarter worth $923,000. Institutional investors and hedge funds own 69.88% of the company's stock.

Franklin Covey Stock Performance

Shares of NYSE FC traded up $0.35 during midday trading on Tuesday, hitting $19.45. The company's stock had a trading volume of 56,557 shares, compared to its average volume of 133,232. The stock has a fifty day moving average price of $19.54 and a 200 day moving average price of $22.32. The company has a current ratio of 0.84, a quick ratio of 0.81 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $245.85 million, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.19 and a beta of 0.89. Franklin Covey Company has a one year low of $18.13 and a one year high of $44.16.

Franklin Covey (NYSE:FC - Get Free Report) last posted its earnings results on Wednesday, July 2nd. The business services provider reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.26. The business had revenue of $67.12 million for the quarter, compared to analyst estimates of $67.49 million. Franklin Covey had a net margin of 3.81% and a return on equity of 19.08%. During the same quarter in the prior year, the firm posted $0.46 EPS. Franklin Covey has set its FY 2025 guidance at EPS. On average, research analysts forecast that Franklin Covey Company will post 0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FC. Roth Capital reduced their price target on shares of Franklin Covey from $30.00 to $27.00 and set a "buy" rating for the company in a report on Monday, July 7th. Barrington Research cut their price target on shares of Franklin Covey from $35.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $27.00.

About Franklin Covey

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.