California Public Employees Retirement System lowered its stake in Carrols Restaurant Group Inc. (NASDAQ:TAST) by 11.5% during the second quarter, Holdings Channel reports. The institutional investor owned 197,000 shares of the company’s stock after selling 25,500 shares during the period. California Public Employees Retirement System owned approximately 0.56% of Carrols Restaurant Group worth $2,344,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new position in Carrols Restaurant Group during the first quarter valued at about $304,000. Legal & General Group Plc raised its position in Carrols Restaurant Group by 34.4% in the first quarter. Legal & General Group Plc now owns 7,062 shares of the company’s stock valued at $102,000 after buying an additional 1,807 shares during the last quarter. Renaissance Technologies LLC raised its position in Carrols Restaurant Group by 34.3% in the first quarter. Renaissance Technologies LLC now owns 1,234,300 shares of the company’s stock valued at $17,823,000 after buying an additional 315,400 shares during the last quarter. Bogle Investment Management L P DE raised its position in Carrols Restaurant Group by 34.0% in the first quarter. Bogle Investment Management L P DE now owns 242,073 shares of the company’s stock valued at $3,495,000 after buying an additional 61,443 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Carrols Restaurant Group by 15.8% in the first quarter. Geode Capital Management LLC now owns 243,022 shares of the company’s stock valued at $3,509,000 after buying an additional 33,168 shares during the last quarter. Institutional investors and hedge funds own 82.61% of the company’s stock.
Carrols Restaurant Group Inc. (NASDAQ:TAST) traded down 0.719% during mid-day trading on Monday, hitting $13.115. 230,166 shares of the stock traded hands. The firm has a market capitalization of $460.64 million, a P/E ratio of 25.417 and a beta of -0.16. Carrols Restaurant Group Inc. has a 1-year low of $10.57 and a 1-year high of $14.80. The company has a 50-day moving average of $13.31 and a 200 day moving average of $13.07.
Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $241.40 million for the quarter, compared to analysts’ expectations of $244.61 million. Carrols Restaurant Group had a net margin of 2.83% and a return on equity of 26.41%. On average, equities research analysts anticipate that Carrols Restaurant Group Inc. will post $0.59 EPS for the current year.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, September 15th. Citigroup Inc. restated a “buy” rating and set a $15.50 price target (up previously from $15.00) on shares of Carrols Restaurant Group in a report on Tuesday, July 5th.
In other Carrols Restaurant Group news, VP Timothy Lalonde sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $13.61, for a total value of $54,440.00. Following the completion of the sale, the vice president now owns 96,053 shares of the company’s stock, valued at $1,307,281.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.30% of the stock is currently owned by corporate insiders.
About Carrols Restaurant Group
Carrols Restaurant Group, Inc is a holding company. The Company conducts all of its operations through its direct and indirect subsidiaries. The Company operates in the hamburger category of the quick-service restaurant segment of the restaurant industry. The Company is a Burger King franchisee in the United States and operates its restaurants under the Burger King trade name.
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