Franchise Group, Inc. (NASDAQ:FRG) Director Patrick A. Cozza bought 4,000 shares of the stock in a transaction dated Wednesday, June 9th. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $149,280.00. Following the completion of the acquisition, the director now directly owns 26,459 shares of the company's stock, valued at approximately $987,449.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ FRG traded down $0.73 during trading hours on Thursday, hitting $36.30. 178,590 shares of the stock were exchanged, compared to its average volume of 157,294. The company has a current ratio of 1.46, a quick ratio of 0.70 and a debt-to-equity ratio of 2.68. The firm has a market cap of $1.46 billion, a P/E ratio of -54.15, a PEG ratio of 0.74 and a beta of 1.99. The firm has a fifty day moving average of $37.02. Franchise Group, Inc. has a 1-year low of $17.73 and a 1-year high of $41.50.
Franchise Group (NASDAQ:FRG) last issued its earnings results on Thursday, May 6th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Franchise Group had a negative net margin of 0.95% and a positive return on equity of 11.75%. The firm had revenue of $621.35 million for the quarter, compared to analyst estimates of $709.82 million. The company's quarterly revenue was up 23.5% compared to the same quarter last year. Equities analysts anticipate that Franchise Group, Inc. will post 3.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, July 1st will be given a $0.375 dividend. The ex-dividend date is Wednesday, June 30th. This represents a $1.50 dividend on an annualized basis and a yield of 4.13%. Franchise Group's dividend payout ratio is currently 94.94%.
FRG has been the topic of several recent research reports. Zacks Investment Research cut shares of Franchise Group from a "buy" rating to a "hold" rating in a report on Monday, May 31st. TheStreet raised shares of Franchise Group from a "d+" rating to a "c-" rating in a report on Thursday, May 27th. Oppenheimer initiated coverage on shares of Franchise Group in a report on Wednesday, April 21st. They set an "outperform" rating and a $50.00 target price on the stock. B. Riley raised their target price on shares of Franchise Group from $38.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, March 11th. Finally, Barrington Research increased their price target on shares of Franchise Group from $40.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, March 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of "Buy" and an average target price of $43.71.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Franchise Group by 21.6% in the first quarter. BlackRock Inc. now owns 1,974,843 shares of the company's stock valued at $71,310,000 after buying an additional 350,656 shares in the last quarter. Hood River Capital Management LLC boosted its position in Franchise Group by 2.1% in the fourth quarter. Hood River Capital Management LLC now owns 1,394,429 shares of the company's stock valued at $42,460,000 after buying an additional 28,838 shares in the last quarter. Wells Fargo & Company MN boosted its position in Franchise Group by 4.2% in the fourth quarter. Wells Fargo & Company MN now owns 915,515 shares of the company's stock valued at $27,877,000 after buying an additional 37,228 shares in the last quarter. Cannell Capital LLC boosted its position in Franchise Group by 22.1% in the first quarter. Cannell Capital LLC now owns 848,267 shares of the company's stock valued at $30,631,000 after buying an additional 153,771 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd boosted its position in Franchise Group by 15.9% in the first quarter. Ophir Asset Management Pty Ltd now owns 800,603 shares of the company's stock valued at $28,229,000 after buying an additional 109,964 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.
About Franchise Group
Franchise Group, Inc operates as a retailer, franchisor operator, and acquirer of franchised and franchisable businesses. It operates through 4 segments: Liberty Tax, Buddy's, Sears Outlet, and Vitamin Shoppe. The company provides tax preparation services in the United States and Canada; and franchises and operates rent-to-own stores that lease durable goods, such as electronics, residential furniture, appliances, and household accessories to customers.
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