Bank of New York Mellon Corp Sells 8,414 Shares of Franklin Covey Co. (FC)

Bank of New York Mellon Corp cut its position in Franklin Covey Co. (NYSE:FC) by 10.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,822 shares of the business services provider’s stock after selling 8,414 shares during the quarter. Bank of New York Mellon Corp’s holdings in Franklin Covey were worth $1,437,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in Franklin Covey by 9.0% in the second 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 in the last quarter. State Street Corp raised its holdings in Franklin Covey by 13.6% in the second quarter. State Street Corp now owns 201,339 shares of the business services provider’s stock worth $3,884,000 after purchasing an additional 24,088 shares in the last quarter. California Public Employees Retirement System raised its holdings in Franklin Covey by 30.8% in the second 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 in the last quarter. Vanguard Group Inc. raised its holdings in Franklin Covey by 1.9% in the second quarter. Vanguard Group Inc. now owns 497,768 shares of the business services provider’s stock worth $9,607,000 after purchasing an additional 9,279 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Franklin Covey by 2.7% in the second quarter. Northern Trust Corp now owns 137,853 shares of the business services provider’s stock worth $2,661,000 after purchasing an additional 3,688 shares in the last quarter. Institutional investors and hedge funds own 49.68% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Franklin Covey from a “sell” rating to a “hold” rating in a report on Tuesday. Barrington Research upgraded shares of Franklin Covey from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, B. Riley restated a “buy” rating and set a $21.00 price objective on shares of Franklin Covey in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.00.

In other news, Director Joel Clinton Peterson sold 1,793 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $19.13, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 33.40% of the company’s stock.

Franklin Covey Co. (FC) opened at $30.00 on Thursday. Franklin Covey Co. has a fifty-two week low of $15.20 and a fifty-two week high of $30.65. The company has a current ratio of 1.14, a quick ratio of 1.10 and a debt-to-equity ratio of 0.45. The stock has a market cap of $411.08, a PE ratio of -73.17 and a beta of 0.82.

Franklin Covey (NYSE:FC) last posted its quarterly earnings data on Thursday, January 4th. The business services provider reported ($0.17) earnings per share (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 the consensus estimate of $43.47 million. During the same quarter in the prior year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. sell-side analysts forecast that Franklin Covey Co. will post -0.25 EPS for the current year.

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Franklin Covey 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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Institutional Ownership by Quarter for Franklin Covey (NYSE:FC)

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