Hsbc Holdings PLC Reduces Holdings in Franklin Covey Co. (NYSE:FC)

Hsbc Holdings PLC cut its stake in Franklin Covey Co. (NYSE:FC) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,488 shares of the business services provider’s stock after selling 8,754 shares during the period. Hsbc Holdings PLC owned about 0.20% of Franklin Covey worth $995,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hancock Whitney Corp grew its stake in shares of Franklin Covey by 6.2% in the 1st quarter. Hancock Whitney Corp now owns 6,670 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 390 shares during the last quarter. Bailard Inc. grew its position in Franklin Covey by 4.4% in the 2nd quarter. Bailard Inc. now owns 11,942 shares of the business services provider’s stock valued at $454,000 after buying an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Franklin Covey in the 1st quarter valued at $59,000. Mather Group LLC. purchased a new position in Franklin Covey during the 1st quarter worth $73,000. Finally, American Century Companies Inc. lifted its stake in shares of Franklin Covey by 11.5% in the 2nd quarter. American Century Companies Inc. now owns 21,781 shares of the business services provider’s stock worth $828,000 after acquiring an additional 2,253 shares during the period. Hedge funds and other institutional investors own 69.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FC. Roth Mkm reissued a “buy” rating and set a $50.00 price target on shares of Franklin Covey in a report on Thursday, June 27th. Barrington Research reissued an “outperform” rating and set a $45.00 target price on shares of Franklin Covey in a research note on Thursday, June 27th. Finally, StockNews.com raised Franklin Covey from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 24th.

Franklin Covey Price Performance

Shares of NYSE FC opened at $40.99 on Friday. 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 company’s 50-day moving average price is $40.13 and its 200 day moving average price is $38.83. Franklin Covey Co. has a 52 week low of $32.19 and a 52 week high of $44.96. The stock has a market cap of $536.72 million, a price-to-earnings ratio of 30.59, a PEG ratio of 0.98 and a beta of 1.24.

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

About Franklin Covey

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.