Rocky Mountain Chocolate Factory Inc. (NASDAQ:RMCF) posted its earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter. The firm earned $8.60 million during the quarter, compared to analysts’ expectations of $9.30 million. Rocky Mountain Chocolate Factory had a net margin of 11.14% and a return on equity of 33.50%.
Shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) opened at 10.50 on Wednesday. The firm has a 50-day moving average of $10.50 and a 200-day moving average of $10.20. The firm has a market capitalization of $60.97 million, a PE ratio of 14.34 and a beta of 0.61. Rocky Mountain Chocolate Factory has a 1-year low of $9.30 and a 1-year high of $11.76.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Tuesday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Thursday, September 1st. Rocky Mountain Chocolate Factory’s dividend payout ratio (DPR) is presently 65.75%.
In related news, CFO Bryan J. Merryman sold 3,200 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $10.05, for a total transaction of $32,160.00. Following the completion of the sale, the chief financial officer now directly owns 95,100 shares of the company’s stock, valued at approximately $955,755. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Franklin E. Crail sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $10.36, for a total value of $62,160.00. Following the sale, the insider now directly owns 464,103 shares of the company’s stock, valued at $4,808,107.08. The disclosure for this sale can be found here. Corporate insiders own 15.33% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in Rocky Mountain Chocolate Factory by 36.3% in the second quarter. BlackRock Fund Advisors now owns 25,776 shares of the company’s stock worth $262,000 after buying an additional 6,870 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rocky Mountain Chocolate Factory by 4.2% in the second quarter. Vanguard Group Inc. now owns 201,863 shares of the company’s stock worth $2,049,000 after buying an additional 8,047 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Rocky Mountain Chocolate Factory during the second quarter worth about $113,000. Finally, North Star Investment Management Corp. boosted its stake in Rocky Mountain Chocolate Factory by 5.1% in the second quarter. North Star Investment Management Corp. now owns 82,525 shares of the company’s stock worth $838,000 after buying an additional 4,000 shares during the last quarter. 37.03% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on RMCF shares. TheStreet upgraded shares of Rocky Mountain Chocolate Factory from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. TD Securities reiterated a “hold” rating and issued a $8.00 target price (up from $7.00) on shares of Rocky Mountain Chocolate Factory in a research note on Saturday, August 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.46.
Rocky Mountain Chocolate Factory Company Profile
Rocky Mountain Chocolate Factory, Inc is an international franchisor, confectionery manufacturer and retail operator. The Company’s subsidiary, U-Swirl, Inc (U-Swirl), franchises and operates soft-serve frozen yogurt stores. The Company operates through five segments: Franchising, Manufacturing, Retail Stores, U-Swirl, Inc and Other.
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