Bank of New York Mellon Corp Decreases Position in Franklin Covey Co. (NYSE:FC)

Bank of New York Mellon Corp decreased its holdings in shares of Franklin Covey Co. (NYSE:FC) by 11.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,493 shares of the business services provider’s stock after selling 5,823 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of Franklin Covey worth $1,653,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Franklin Covey by 3.5% in the first quarter. Vanguard Group Inc. now owns 703,603 shares of the business services provider’s stock valued at $27,623,000 after buying an additional 24,062 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Franklin Covey by 12.2% in the first quarter. Acadian Asset Management LLC now owns 238,455 shares of the business services provider’s stock valued at $9,357,000 after buying an additional 25,876 shares during the last quarter. Wasatch Advisors LP purchased a new stake in Franklin Covey in the first quarter valued at approximately $6,862,000. Partners Capital Investment Group LLP purchased a new stake in Franklin Covey in the fourth quarter valued at approximately $404,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Franklin Covey in the first quarter valued at approximately $241,000. Hedge funds and other institutional investors own 69.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FC. StockNews.com upgraded Franklin Covey from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 24th. Barrington Research reissued an “outperform” rating and issued a $45.00 target price on shares of Franklin Covey in a report on Thursday, June 27th. Finally, Roth Mkm reissued a “buy” rating and issued a $50.00 target price on shares of Franklin Covey in a report on Thursday, June 27th.

Franklin Covey Trading Up 1.2 %

NYSE:FC opened at $41.06 on Thursday. The firm has a market cap of $537.64 million, a P/E ratio of 30.64, a PEG ratio of 0.91 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $40.12 and its 200-day simple moving average is $38.72. Franklin Covey Co. has a 12-month low of $32.19 and a 12-month high of $44.96.

Franklin Covey (NYSE:FC) last announced its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Franklin Covey had a return on equity of 24.90% and a net margin of 6.50%. The firm had revenue of $73.37 million for the quarter, compared to analyst estimates of $72.12 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. Equities analysts anticipate that Franklin Covey Co. will post 1.66 EPS for the current year.

Franklin Covey Company Profile

Franklin Covey Co provides training and consulting services in the areas of execution, sales performance, productivity, customer loyalty, and educational improvement for organizations and individuals worldwide. The company operates through Direct Offices, International Licensees, and Education Practice segments.