Geode Capital Management LLC Sells 4,879 Shares of Driven Brands Holdings Inc. (NASDAQ:DRVN)

Geode Capital Management LLC lessened its holdings in shares of Driven Brands Holdings Inc. (NASDAQ:DRVN) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,506,351 shares of the company’s stock after selling 4,879 shares during the quarter. Geode Capital Management LLC owned about 0.92% of Driven Brands worth $24,317,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Driven Brands by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 5,708,430 shares of the company’s stock worth $92,134,000 after buying an additional 31,431 shares during the last quarter. Emeth Value Capital LLC purchased a new stake in Driven Brands during the fourth quarter valued at about $41,452,000. State Street Corp lifted its stake in Driven Brands by 2.2% during the third quarter. State Street Corp now owns 1,424,332 shares of the company’s stock worth $20,325,000 after purchasing an additional 30,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Driven Brands by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 496,073 shares of the company’s stock worth $8,007,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Driven Brands by 44.4% during the 4th quarter. Bank of New York Mellon Corp now owns 254,542 shares of the company’s stock valued at $4,108,000 after purchasing an additional 78,252 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors.

Driven Brands Price Performance

DRVN opened at $16.30 on Friday. The stock’s 50 day moving average price is $16.43 and its 200-day moving average price is $16.04. Driven Brands Holdings Inc. has a 52-week low of $10.59 and a 52-week high of $18.01. The stock has a market capitalization of $2.67 billion, a PE ratio of 407.50, a price-to-earnings-growth ratio of 0.79 and a beta of 1.09. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.72 and a current ratio of 1.90.

Driven Brands (NASDAQ:DRVN) last posted its earnings results on Tuesday, February 25th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. Driven Brands had a net margin of 0.27% and a return on equity of 14.86%. The firm had revenue of $564.12 million during the quarter, compared to analysts’ expectations of $572.95 million. During the same period last year, the company posted $0.19 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Driven Brands Holdings Inc. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Benchmark started coverage on shares of Driven Brands in a research report on Friday, April 4th. They set a “buy” rating and a $22.00 price target on the stock. Canaccord Genuity Group boosted their price target on shares of Driven Brands from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. BMO Capital Markets raised their price objective on Driven Brands from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Robert W. Baird set a $25.00 target price on Driven Brands in a research note on Thursday, March 13th. Finally, Piper Sandler raised their price target on Driven Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Driven Brands has an average rating of “Moderate Buy” and a consensus target price of $20.50.

About Driven Brands

Driven Brands Holdings Inc, together with its subsidiaries, provides automotive services to retail and commercial customers in the United States, Canada, and internationally. It offers various services, such as paint, collision, glass, repair, car wash, oil change, and maintenance services. The company also distributes automotive parts, including radiators, air conditioning components, and exhaust products to automotive repair shops, auto parts stores, body shops, and other auto repair outlets; windshields and glass accessories through a network of distribution centers; and consumable products, such as oil filters and wiper blades, as well as training services to repair and maintenance, and paint and collision shops.