Franklin Covey Co. (FC) Stake Lifted by Northern Trust Corp
Northern Trust Corp grew its position in shares of Franklin Covey Co. (NYSE:FC) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,853 shares of the business services provider’s stock after purchasing an additional 3,688 shares during the period. Northern Trust Corp owned approximately 0.99% of Franklin Covey worth $2,661,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FC. Schwab Charles Investment Management Inc. grew its position in Franklin Covey by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 48,208 shares of the business services provider’s stock worth $931,000 after acquiring an additional 342 shares in the last quarter. American International Group Inc. grew its position in Franklin Covey by 7.3% in the first quarter. American International Group Inc. now owns 6,300 shares of the business services provider’s stock worth $127,000 after acquiring an additional 427 shares in the last quarter. Bank of New York Mellon Corp grew its position in Franklin Covey by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 79,236 shares of the business services provider’s stock worth $1,529,000 after acquiring an additional 646 shares in the last quarter. Modera Wealth Management LLC grew its position in Franklin Covey by 5.9% in the second quarter. Modera Wealth Management LLC now owns 27,281 shares of the business services provider’s stock worth $527,000 after acquiring an additional 1,519 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Franklin Covey by 13.0% in the second quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock worth $370,000 after acquiring an additional 2,211 shares in the last quarter. Hedge funds and other institutional investors own 52.05% of the company’s stock.
Franklin Covey Co. (NYSE:FC) opened at $19.35 on Monday. Franklin Covey Co. has a 1 year low of $15.20 and a 1 year high of $22.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.10.
Franklin Covey (NYSE:FC) last posted its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.06). The business had revenue of $59.50 million during the quarter, compared to the consensus estimate of $64.60 million. Franklin Covey had a negative return on equity of 5.50% and a negative net margin of 3.87%. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. analysts forecast that Franklin Covey Co. will post -0.25 EPS for the current fiscal year.
FC has been the subject of several research reports. Zacks Investment Research lowered shares of Franklin Covey from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. B. Riley reiterated a “buy” rating and issued a $22.00 target price on shares of Franklin Covey in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
In other Franklin Covey news, Director Joel Clinton Peterson sold 1,792 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $20.33, for a total value of $36,431.36. Following the completion of the sale, the director now directly owns 225,280 shares of the company’s stock, valued at $4,579,942.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,377 shares of company stock valued at $104,045 over the last three months. 33.50% of the stock is currently owned by insiders.
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Franklin Covey Company Profile
Franklin Covey Co is a global company specializing in performance improvement. The Company’s segments are Direct Offices, Strategic Markets, Education practice and International Licensees. The Direct Offices segment consists of its geographic sales offices that serve the United States and Canada, its international sales offices located in Japan, the United Kingdom and Australia, and its public programs group.
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