Franchise Group, Inc. (NASDAQ:FRG – Get Rating) declared a quarterly dividend on Tuesday, May 17th, Zacks reports. Stockholders of record on Friday, July 1st will be given a dividend of 0.625 per share on Friday, July 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Thursday, June 30th.
Franchise Group has a payout ratio of 46.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Franchise Group to earn $5.34 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 46.8%.
NASDAQ:FRG opened at $39.47 on Thursday. Franchise Group has a 12 month low of $32.12 and a 12 month high of $55.10. The company has a current ratio of 1.32, a quick ratio of 0.72 and a debt-to-equity ratio of 1.81. The firm’s 50 day moving average is $40.40 and its 200 day moving average is $45.34. The stock has a market capitalization of $1.59 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.77.
A number of brokerages have weighed in on FRG. B. Riley cut their target price on shares of Franchise Group from $65.00 to $63.00 in a research report on Friday, May 6th. Zacks Investment Research raised shares of Franchise Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Franchise Group has an average rating of “Buy” and a consensus price target of $59.40.
In other Franchise Group news, Director Patrick A. Cozza acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was bought at an average price of $42.50 per share, with a total value of $85,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Randall Kahn bought 100,000 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was acquired at an average price of $37.50 per share, for a total transaction of $3,750,000.00. Following the completion of the purchase, the chief executive officer now directly owns 8,864,610 shares in the company, valued at $332,422,875. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 106,000 shares of company stock worth $3,999,000. Company insiders own 30.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC increased its stake in Franchise Group by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 9,820 shares of the company’s stock valued at $512,000 after acquiring an additional 775 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Franchise Group by 114.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 7,817 shares of the company’s stock valued at $324,000 after buying an additional 4,166 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of Franchise Group during the 4th quarter valued at about $320,000. KB Financial Partners LLC lifted its position in Franchise Group by 24.3% in the 1st quarter. KB Financial Partners LLC now owns 7,324 shares of the company’s stock worth $303,000 after buying an additional 1,432 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Franchise Group in the third quarter worth approximately $282,000. 45.51% of the stock is owned by institutional investors.
Franchise Group Company Profile (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.
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