BlackRock Inc. Takes Position in Franklin Covey Company $FC

Key Points

• BlackRock acquired 986,190 Franklin Covey shares worth approximately $24.2 million, giving it an 8.74% stake. Institutional investors collectively own 69.88% of the company.
• Franklin Covey reported quarterly EPS of $0.27, beating estimates by $0.03, while revenue of $67.81 million fell slightly short of expectations.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $27.50 target price; shares opened at $18.80 and have traded between $11.16 and $26.81 over the past year.

BlackRock Inc. purchased a new stake in Franklin Covey Company (NYSE:FC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 986,190 shares of the business services provider's stock, valued at approximately $24,191,000. BlackRock Inc. owned about 8.74% of Franklin Covey at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rice Hall James & Associates LLC acquired a new position in Franklin Covey in the second quarter valued at $12,158,000. Alliancebernstein L.P. raised its holdings in shares of Franklin Covey by 70.4% in the third quarter. Alliancebernstein L.P. now owns 1,052,680 shares of the business services provider's stock valued at $20,433,000 after buying an additional 434,965 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Franklin Covey by 886.1% during the third quarter. Millennium Management LLC now owns 259,618 shares of the business services provider's stock worth $5,039,000 after buying an additional 233,291 shares during the period. Federated Hermes Inc. boosted its stake in shares of Franklin Covey by 83.9% during the fourth quarter. Federated Hermes Inc. now owns 376,393 shares of the business services provider's stock worth $6,316,000 after buying an additional 171,744 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Franklin Covey during the third quarter worth about $2,275,000. Institutional investors and hedge funds own 69.88% of the company's stock.

Franklin Covey Stock Performance

Shares of Franklin Covey stock opened at $18.80 on Thursday. Franklin Covey Company has a one year low of $11.16 and a one year high of $26.81. The company has a market cap of $212.25 million, a P/E ratio of 110.59, a PEG ratio of 0.98 and a beta of 0.76. The firm has a fifty day moving average of $21.17 and a two-hundred day moving average of $20.12.

Franklin Covey (NYSE:FC - Get Free Report) last issued its earnings results on Wednesday, July 1st. The business services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Franklin Covey had a net margin of 0.83% and a return on equity of 17.37%. The business had revenue of $67.81 million for the quarter, compared to the consensus estimate of $68.33 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, equities analysts predict that Franklin Covey Company will post 0.96 earnings per share for the current year.

Analyst Ratings Changes

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

Franklin Covey Profile

Franklin Covey Co NYSE: FC is a global consulting and training firm specializing in performance improvement solutions for individuals and organizations. The company offers a range of services, including leadership development, productivity tools, execution frameworks and assessments designed to foster personal effectiveness and drive business results. Its flagship offerings integrate training workshops, digital resources and coaching to support clients in areas such as strategic planning, team productivity and change management.

The origins of Franklin Covey trace back to the merger in 1997 of Franklin Quest Co, founded in 1983 by Hyrum W.

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