Franchise Group, Inc. (NASDAQ:FRG) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in shares of Franchise Group, Inc. (NASDAQ:FRGGet Rating) by 101.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,345 shares of the company’s stock after acquiring an additional 25,345 shares during the period. Verition Fund Management LLC’s holdings in Franchise Group were worth $2,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hood River Capital Management LLC lifted its stake in Franchise Group by 3.7% in the 1st quarter. Hood River Capital Management LLC now owns 1,664,661 shares of the company’s stock valued at $68,967,000 after buying an additional 59,087 shares in the last quarter. Vanguard Group Inc. lifted its stake in Franchise Group by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,374,246 shares of the company’s stock worth $56,934,000 after purchasing an additional 4,147 shares in the last quarter. Cannell Capital LLC lifted its stake in Franchise Group by 31.9% in the 1st quarter. Cannell Capital LLC now owns 808,762 shares of the company’s stock worth $33,507,000 after purchasing an additional 195,510 shares in the last quarter. Select Equity Group L.P. lifted its stake in Franchise Group by 36.7% in the 4th quarter. Select Equity Group L.P. now owns 770,927 shares of the company’s stock worth $40,212,000 after purchasing an additional 207,094 shares in the last quarter. Finally, State Street Corp lifted its stake in Franchise Group by 3.1% in the 1st quarter. State Street Corp now owns 623,954 shares of the company’s stock worth $26,248,000 after purchasing an additional 18,819 shares in the last quarter. 82.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of Franchise Group from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, August 8th. DA Davidson reduced their price target on shares of Franchise Group to $55.00 in a research report on Tuesday, August 9th. Finally, B. Riley reduced their price target on shares of Franchise Group from $63.00 to $49.00 in a research report on Friday, August 5th.

Franchise Group Stock Down 4.2 %

FRG stock opened at $31.68 on Monday. The firm has a market cap of $1.28 billion, a PE ratio of 3.65, a PEG ratio of 0.53 and a beta of 1.58. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.67 and a current ratio of 1.52. The firm’s 50 day moving average price is $34.03 and its 200-day moving average price is $37.34. Franchise Group, Inc. has a one year low of $29.66 and a one year high of $55.10.

Franchise Group (NASDAQ:FRGGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.04). Franchise Group had a net margin of 9.11% and a return on equity of 23.71%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, equities research analysts anticipate that Franchise Group, Inc. will post 4.02 EPS for the current year.

Franchise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.50 annualized dividend and a dividend yield of 7.89%. Franchise Group’s dividend payout ratio (DPR) is 28.80%.

About Franchise Group

(Get Rating)

Franchise Group, Inc owns and operates franchised and franchisable businesses. It operates through six segments: Vitamin Shoppe, Pet Supplies Plus, Badcock, American Freight, Buddy's, and Sylvan. The Vitamin Shoppe segment operates as an omnichannel specialty retailer of vitamins, minerals, herbs, specialty supplements, sports nutrition, and other health and wellness products under the BodyTech, True Athlete, plnt, The Vitamin Shoppe, ProBioCare, Fitfactor Weight Management System, and Vthrive The Vitamin Shoppe brands.

See Also

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Institutional Ownership by Quarter for Franchise Group (NASDAQ:FRG)

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