JPMorgan Chase & Co. Has $1.70 Million Holdings in Franklin Covey Co. (FC)
JPMorgan Chase & Co. reduced its position in shares of Franklin Covey Co. (NYSE:FC) by 44.7% during the 3rd quarter, Holdings Channel reports. The firm owned 82,322 shares of the business services provider’s stock after selling 66,445 shares during the quarter. JPMorgan Chase & Co.’s holdings in Franklin Covey were worth $1,695,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Franklin Covey by 0.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,208 shares of the business services provider’s stock worth $931,000 after purchasing an additional 342 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Franklin Covey by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,236 shares of the business services provider’s stock worth $1,529,000 after purchasing an additional 646 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Franklin Covey by 9.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,948 shares of the business services provider’s stock worth $172,000 after purchasing an additional 740 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Franklin Covey by 13.0% during the 2nd quarter. Teachers Advisors LLC now owns 19,159 shares of the business services provider’s stock worth $370,000 after purchasing an additional 2,211 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Franklin Covey by 30.8% during the 2nd quarter. California Public Employees Retirement System now owns 13,592 shares of the business services provider’s stock worth $262,000 after purchasing an additional 3,200 shares during the last quarter. 49.68% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on FC. Zacks Investment Research lowered shares of Franklin Covey from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. B. Riley reiterated a “buy” rating and set a $21.00 price objective on shares of Franklin Covey in a report on Tuesday, January 2nd. Finally, Barrington Research upgraded shares of Franklin Covey from a “market perform” rating to an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.00.
In related news, Director Joel Clinton Peterson sold 1,793 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $19.13, for a total value of $34,300.09. Following the transaction, the director now owns 223,487 shares in the company, valued at $4,275,306.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 33.40% of the company’s stock.
Franklin Covey Co. (FC) opened at $29.55 on Wednesday. Franklin Covey Co. has a 1-year low of $15.20 and a 1-year high of $29.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.10. The company has a market cap of $404.92, a P/E ratio of -72.07 and a beta of 0.82.
Franklin Covey (NYSE:FC) last posted its quarterly earnings results on Thursday, January 4th. The business services provider reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.16. Franklin Covey had a negative net margin of 2.90% and a negative return on equity of 3.75%. The firm had revenue of $47.90 million for the quarter, compared to analyst estimates of $43.47 million. During the same quarter last year, the firm posted ($0.29) earnings per share. Franklin Covey’s revenue for the quarter was up 20.4% compared to the same quarter last year. equities analysts expect that Franklin Covey Co. will post -0.25 EPS for the current fiscal year.
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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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