Verition Fund Management LLC increased its stake in Franchise Group, Inc. (NASDAQ:FRG – Get Rating) by 101.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 50,345 shares of the company’s stock after purchasing an additional 25,345 shares during the quarter. Verition Fund Management LLC owned approximately 0.12% of Franchise Group worth $2,086,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Select Equity Group L.P. lifted its position in shares of Franchise Group by 36.7% in the fourth quarter. Select Equity Group L.P. now owns 770,927 shares of the company’s stock valued at $40,212,000 after acquiring an additional 207,094 shares in the last quarter. Cannell Capital LLC lifted its position in shares of Franchise Group by 31.9% in the first quarter. Cannell Capital LLC now owns 808,762 shares of the company’s stock valued at $33,507,000 after acquiring an additional 195,510 shares in the last quarter. LGT Group Foundation lifted its position in shares of Franchise Group by 298.1% in the first quarter. LGT Group Foundation now owns 249,542 shares of the company’s stock valued at $10,379,000 after acquiring an additional 186,857 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Franchise Group in the first quarter valued at about $5,138,000. Finally, Capital Management Corp VA lifted its position in shares of Franchise Group by 47.4% in the first quarter. Capital Management Corp VA now owns 335,873 shares of the company’s stock valued at $13,915,000 after acquiring an additional 108,023 shares in the last quarter. 82.72% of the stock is owned by institutional investors.
Franchise Group Stock Down 4.2 %
Shares of NASDAQ:FRG opened at $31.68 on Monday. Franchise Group, Inc. has a 52-week low of $29.66 and a 52-week high of $55.10. The stock has a market cap of $1.28 billion, a P/E ratio of 3.65, a price-to-earnings-growth ratio of 0.53 and a beta of 1.58. The business’s 50 day moving average is $34.03 and its 200 day moving average is $37.34. The company has a quick ratio of 0.67, a current ratio of 1.52 and a debt-to-equity ratio of 1.67.
Franchise Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.50 dividend on an annualized basis and a yield of 7.89%. Franchise Group’s dividend payout ratio is currently 28.80%.
Analysts Set New Price Targets
FRG has been the topic of several research analyst reports. B. Riley lowered their price objective on Franchise Group from $63.00 to $49.00 in a research report on Friday, August 5th. Oppenheimer decreased their target price on Franchise Group from $65.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Finally, DA Davidson decreased their target price on Franchise Group to $55.00 in a research report on Tuesday, August 9th.
Franchise Group Profile
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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