Rocky Mountain Chocolate Factory Inc. (RMCF) Announces Quarterly Earnings Results
Rocky Mountain Chocolate Factory Inc. (NASDAQ:RMCF) announced its earnings results on Tuesday. The company reported $0.16 EPS for the quarter. The firm had revenue of $8.60 million for the quarter, compared to the consensus estimate of $9.30 million. Rocky Mountain Chocolate Factory had a return on equity of 33.50% and a net margin of 11.14%.
Rocky Mountain Chocolate Factory (NASDAQ:RMCF) opened at 10.65 on Tuesday. Rocky Mountain Chocolate Factory has a 52 week low of $9.30 and a 52 week high of $12.16. The stock has a 50 day moving average price of $10.51 and a 200-day moving average price of $10.19. The firm has a market capitalization of $61.84 million, a P/E ratio of 14.55 and a beta of 0.61.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Tuesday, September 6th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Thursday, September 1st. Rocky Mountain Chocolate Factory’s dividend payout ratio is 65.75%.
Several brokerages have commented on RMCF. TD Securities reaffirmed a “hold” rating and set a $8.00 target price (up from $7.00) on shares of Rocky Mountain Chocolate Factory in a report on Saturday, August 13th. TheStreet raised Rocky Mountain Chocolate Factory from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Rocky Mountain Chocolate Factory has an average rating of “Hold” and a consensus target price of $7.46.
In other news, insider Franklin E. Crail sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $10.36, for a total value of $62,160.00. Following the transaction, the insider now owns 464,103 shares of the company’s stock, valued at $4,808,107.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Donna L. Coupe sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $10.10, for a total transaction of $30,300.00. Following the completion of the transaction, the vice president now directly owns 14,615 shares in the company, valued at approximately $147,611.50. The disclosure for this sale can be found here. 15.33% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position 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 in the last quarter. Vanguard Group Inc. boosted its position 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 in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Rocky Mountain Chocolate Factory during the second quarter worth approximately $113,000. 37.03% of the stock is currently owned by hedge funds and other institutional investors.
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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