Ruth’s Hospitality Group, Inc. (RUTH) Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 779,774 shares of the restaurant operator’s stock after selling 138,913 shares during the period. JPMorgan Chase & Co.’s holdings in Ruth’s Hospitality Group were worth $15,634,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mason Street Advisors LLC raised its stake in shares of Ruth’s Hospitality Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,935 shares of the restaurant operator’s stock worth $139,000 after buying an additional 455 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Ruth’s Hospitality Group by 9.6% in the first quarter. BNP Paribas Arbitrage SA now owns 7,860 shares of the restaurant operator’s stock worth $158,000 after buying an additional 689 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Ruth’s Hospitality Group during the fourth quarter worth about $207,000. TD Asset Management Inc. bought a new stake in shares of Ruth’s Hospitality Group during the first quarter worth about $209,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Ruth’s Hospitality Group by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the restaurant operator’s stock worth $243,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 84.81% of the company’s stock.

Institutional Ownership by Quarter for Ruth`s Hospitality Group (NASDAQ:RUTH)

Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) opened at 22.30 on Tuesday. The firm has a market cap of $684.43 million, a P/E ratio of 23.04 and a beta of 0.29. Ruth’s Hospitality Group, Inc. has a 12-month low of $13.74 and a 12-month high of $22.65. The firm has a 50-day moving average of $21.43 and a 200-day moving average of $19.23.

Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its earnings results on Friday, May 5th. The restaurant operator reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $105.50 million for the quarter, compared to analysts’ expectations of $105.49 million. Ruth’s Hospitality Group had a return on equity of 37.75% and a net margin of 7.89%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 earnings per share. On average, analysts expect that Ruth’s Hospitality Group, Inc. will post $1.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Tuesday, May 16th. Ruth’s Hospitality Group’s payout ratio is presently 37.11%.

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A number of analysts recently issued reports on RUTH shares. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, June 9th. Jefferies Group LLC restated a “hold” rating on shares of Ruth’s Hospitality Group in a research note on Monday, May 15th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Ruth’s Hospitality Group in a research note on Thursday, April 20th. They noted that the move was a valuation call. Finally, Citigroup Inc. restated a “neutral” rating and issued a $22.00 price target (up previously from $20.00) on shares of Ruth’s Hospitality Group in a research note on Monday, May 15th. Three equities 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 a consensus target price of $21.00.

In other news, COO Cheryl Janet Henry sold 21,077 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $21.08, for a total transaction of $444,303.16. Following the sale, the chief operating officer now owns 381,617 shares in the company, valued at $8,044,486.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carla Cooper sold 3,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $21.20, for a total value of $63,600.00. Following the sale, the director now owns 36,048 shares in the company, valued at approximately $764,217.60. The disclosure for this sale can be found here. Insiders have sold 108,877 shares of company stock worth $2,293,273 in the last 90 days. Company insiders own 6.74% of the company’s stock.

About Ruth’s Hospitality Group

Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.

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