Rocky Mountain Chocolate Factory Inc. Plans Quarterly Dividend of $0.12 (RMCF)
Rocky Mountain Chocolate Factory Inc. (NASDAQ:RMCF) declared a quarterly dividend on Tuesday, November 15th. Stockholders of record on Friday, November 25th will be paid a dividend of 0.12 per share on Friday, December 9th. This represents a $0.48 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Tuesday, November 22nd.
Rocky Mountain Chocolate Factory (NASDAQ:RMCF) opened at 9.99 on Wednesday. The company has a market cap of $58.48 million, a PE ratio of 13.09 and a beta of 0.73. Rocky Mountain Chocolate Factory has a 52 week low of $9.30 and a 52 week high of $11.28. The stock has a 50 day moving average of $10.23 and a 200 day moving average of $10.21.
Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last posted its earnings results on Tuesday, October 11th. The company reported $0.16 earnings per share (EPS) for the quarter. Rocky Mountain Chocolate Factory had a return on equity of 34.46% and a net margin of 11.83%. The company had revenue of $8.60 million for the quarter. Equities research analysts predict that Rocky Mountain Chocolate Factory will post $0.71 EPS for the current fiscal year.
In other news, CFO Bryan J. Merryman sold 2,600 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $10.24, for a total transaction of $26,624.00. Following the sale, the chief financial officer now owns 84,150 shares in the company, valued at $861,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald A. Kien sold 10,000 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the sale, the director now owns 22,366 shares in the company, valued at approximately $223,660. The disclosure for this sale can be found here. Insiders own 15.33% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of Rocky Mountain Chocolate Factory during the second quarter worth $113,000. Vanguard Group Inc. raised its stake in shares of 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. Finally, BlackRock Fund Advisors raised its stake in shares of 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. Institutional investors and hedge funds own 36.74% of the company’s stock.
Several equities analysts have issued reports on RMCF shares. TheStreet upgraded 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 previously from $7.00) on shares of Rocky Mountain Chocolate Factory in a research note on Saturday, August 13th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $9.50 target price (up previously from $8.50) on shares of Rocky Mountain Chocolate Factory in a research note on Friday, November 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.84.
About Rocky Mountain Chocolate Factory
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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