Bank of New York Mellon Corp raised its position in Carrols Restaurant Group Inc. (NASDAQ:TAST) by 14.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,386 shares of the company’s stock after buying an additional 22,712 shares during the period. Bank of New York Mellon Corp owned approximately 0.51% of Carrols Restaurant Group worth $2,123,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of TAST. Nordea Investment Management AB increased its stake in Carrols Restaurant Group by 25.7% in the second quarter. Nordea Investment Management AB now owns 81,700 shares of the company’s stock worth $972,000 after buying an additional 16,700 shares during the period. ClariVest Asset Management LLC increased its stake in Carrols Restaurant Group by 18.7% in the second quarter. ClariVest Asset Management LLC now owns 106,225 shares of the company’s stock worth $1,264,000 after buying an additional 16,700 shares during the period. Hartford Investment Management Co. increased its stake in Carrols Restaurant Group by 173.9% in the second quarter. Hartford Investment Management Co. now owns 434,747 shares of the company’s stock worth $5,173,000 after buying an additional 276,031 shares during the period. Eqis Capital Management Inc. increased its stake in Carrols Restaurant Group by 15.2% in the second quarter. Eqis Capital Management Inc. now owns 14,339 shares of the company’s stock worth $171,000 after buying an additional 1,892 shares during the period. Finally, First Manhattan Co. increased its stake in Carrols Restaurant Group by 42.9% in the second quarter. First Manhattan Co. now owns 2,863,387 shares of the company’s stock worth $34,074,000 after buying an additional 859,472 shares during the period. 82.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Carrols Restaurant Group Inc. (NASDAQ:TAST) traded down 0.63% during mid-day trading on Thursday, reaching $12.64. 120,545 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $13.25 and a 200-day moving average price of $13.06. The company has a market capitalization of $443.95 million, a P/E ratio of 24.50 and a beta of -0.17. Carrols Restaurant Group Inc. has a 1-year low of $10.57 and a 1-year high of $14.80.
Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.04. Carrols Restaurant Group had a return on equity of 26.41% and a net margin of 2.83%. The firm earned $241.40 million during the quarter, compared to analyst estimates of $244.61 million. On average, equities research analysts forecast that Carrols Restaurant Group Inc. will post $0.59 earnings per share for the current fiscal year.
Several brokerages have issued reports on TAST. Zacks Investment Research raised shares of Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, September 21st. Citigroup Inc. reaffirmed a “buy” rating and issued a $15.50 price objective (up previously from $15.00) on shares of Carrols Restaurant Group in a research report on Tuesday, July 5th.
In related news, VP Timothy Lalonde sold 4,000 shares of the business’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 directly owns 96,053 shares in the company, valued at approximately $1,307,281.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.30% of the company’s stock.
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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