Bank of America Corp DE Makes New $2.44 Million Investment in Franklin Covey Company $FC

Key Points

• Bank of America bought 99,398 Franklin Covey shares worth approximately $2.44 million, representing about 0.88% of the company. Institutional investors collectively own 69.88% of the stock.
• Analyst sentiment is mixed: Franklin Covey has a consensus “Hold” rating and an average price target of $27.50, with ratings ranging from Buy to Sell.
• Franklin Covey reported quarterly EPS of $0.27, exceeding the $0.24 consensus estimate, while revenue of $67.81 million fell slightly short of expectations.

Bank of America Corp DE bought a new position in Franklin Covey Company (NYSE:FC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 99,398 shares of the business services provider's stock, valued at approximately $2,438,000. Bank of America Corp DE owned about 0.88% of Franklin Covey as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FC. Compass Financial Management LLC purchased a new position in shares of Franklin Covey in the 2nd quarter worth approximately $36,000. Legal & General Group Plc purchased a new stake in shares of Franklin Covey in the second quarter valued at $25,000. Mcmorgan & Co. LLC bought a new stake in shares of Franklin Covey in the 2nd quarter worth about $209,000. Ieq Capital LLC purchased a new position in shares of Franklin Covey during the 2nd quarter worth about $222,000. Finally, Citizens Financial Group Inc. RI bought a new position in Franklin Covey during the 2nd quarter valued at about $385,000. 69.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on FC shares. Barrington Research reaffirmed an "outperform" rating and set a $30.00 target price on shares of Franklin Covey in a research note on Thursday, July 2nd. Roth Capital boosted their price objective on Franklin Covey from $22.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, July 2nd. Wall Street Zen upgraded Franklin Covey from a "hold" rating to a "buy" rating in a research note on Sunday, August 30th. Weiss Ratings upgraded Franklin Covey from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 8th. Finally, National Bank Financial raised shares of Franklin Covey to a "hold" rating in a research note on Sunday, June 28th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Franklin Covey has a consensus rating of "Hold" and an average price target of $27.50.

Franklin Covey Price Performance

Shares of Franklin Covey stock opened at $17.10 on Thursday. The stock has a market cap of $193.06 million, a price-to-earnings ratio of 100.59, a PEG ratio of 0.85 and a beta of 0.76. The firm's 50-day moving average is $19.51 and its two-hundred day moving average is $20.65. Franklin Covey Company has a 1 year low of $11.16 and a 1 year high of $26.81.

Franklin Covey (NYSE:FC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 1st. The business services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $67.81 million during the quarter, compared to analysts' expectations of $68.33 million. Franklin Covey had a net margin of 0.83% and a return on equity of 17.37%. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities analysts expect that Franklin Covey Company will post 0.96 earnings per share for the current year.

Franklin Covey Company Profile

Franklin Covey Co NYSE: FC is a global provider of leadership development, organizational performance, and personal effectiveness solutions. The company helps organizations improve execution, productivity, trust, communication, and leadership capabilities through training, consulting, coaching, and related content.

Its offerings include instructor-led and digital learning programs, organizational assessments, implementation services, and subscription-based access to training materials and resources.

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