Summit Global Investments Takes Position in Carrols Restaurant Group, Inc. (TAST)

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Summit Global Investments purchased a new stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,000 shares of the restaurant operator’s stock, valued at approximately $757,000. Summit Global Investments owned 0.14% of Carrols Restaurant Group as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Carrols Restaurant Group by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,357,716 shares of the restaurant operator’s stock valued at $35,012,000 after purchasing an additional 49,309 shares during the period. BlackRock Inc. lifted its stake in shares of Carrols Restaurant Group by 13.7% in the 2nd quarter. BlackRock Inc. now owns 2,900,341 shares of the restaurant operator’s stock valued at $43,069,000 after purchasing an additional 349,514 shares during the period. Royce & Associates LP lifted its stake in shares of Carrols Restaurant Group by 15.4% in the 2nd quarter. Royce & Associates LP now owns 913,431 shares of the restaurant operator’s stock valued at $13,564,000 after purchasing an additional 121,700 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Carrols Restaurant Group in the 2nd quarter valued at $850,000. Finally, Martingale Asset Management L P lifted its stake in shares of Carrols Restaurant Group by 45.5% in the 2nd quarter. Martingale Asset Management L P now owns 72,613 shares of the restaurant operator’s stock valued at $1,079,000 after purchasing an additional 22,702 shares during the period. 86.45% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on TAST. BidaskClub raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Citigroup increased their price target on Carrols Restaurant Group from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research raised Carrols Restaurant Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, August 10th. SunTrust Banks reissued a “buy” rating and issued a $19.00 price target on shares of Carrols Restaurant Group in a research note on Wednesday, August 8th. Finally, ValuEngine raised Carrols Restaurant Group from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Carrols Restaurant Group has a consensus rating of “Buy” and a consensus target price of $17.63.

Shares of Carrols Restaurant Group stock opened at $16.20 on Thursday. The firm has a market cap of $591.93 million, a P/E ratio of 81.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.34. Carrols Restaurant Group, Inc. has a 12 month low of $9.90 and a 12 month high of $16.40. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.94.

Carrols Restaurant Group (NASDAQ:TAST) last issued its quarterly earnings data on Tuesday, August 7th. The restaurant operator reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $303.05 million for the quarter, compared to the consensus estimate of $301.21 million. Carrols Restaurant Group had a return on equity of 8.53% and a net margin of 1.00%. analysts expect that Carrols Restaurant Group, Inc. will post 0.36 EPS for the current year.

In related news, VP William E. Myers sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $16.10, for a total transaction of $32,200.00. Following the sale, the vice president now owns 72,421 shares of the company’s stock, valued at approximately $1,165,978.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William E. Myers sold 18,300 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $15.57, for a total value of $284,931.00. Following the sale, the vice president now directly owns 87,273 shares in the company, valued at approximately $1,358,840.61. The disclosure for this sale can be found here. Insiders have sold a total of 63,439 shares of company stock worth $1,000,769 in the last ninety days. 4.60% of the stock is currently owned by company insiders.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King. As of December 31, 2017, it owned and operated 807 Burger King restaurants located in 17 states of the United States. The company was founded in 1960 and is headquartered in Syracuse, New York.

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Institutional Ownership by Quarter for Carrols Restaurant Group (NASDAQ:TAST)

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