American International Group Inc. Raises Stake in Del Taco Restaurants, Inc. (NASDAQ:TACO)

American International Group Inc. increased its position in Del Taco Restaurants, Inc. (NASDAQ:TACO) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,229 shares of the restaurant operator’s stock after buying an additional 927 shares during the period. American International Group Inc.’s holdings in Del Taco Restaurants were worth $189,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Del Taco Restaurants by 0.8% in the first quarter. Wells Fargo & Company MN now owns 25,988 shares of the restaurant operator’s stock worth $345,000 after buying an additional 200 shares during the period. Rothschild Investment Corp IL raised its position in shares of Del Taco Restaurants by 3.1% in the first quarter. Rothschild Investment Corp IL now owns 93,750 shares of the restaurant operator’s stock worth $1,243,000 after buying an additional 2,800 shares during the period. Engineers Gate Manager LP raised its position in shares of Del Taco Restaurants by 49.0% in the first quarter. Engineers Gate Manager LP now owns 47,154 shares of the restaurant operator’s stock worth $625,000 after buying an additional 15,512 shares during the period. State Street Corp raised its position in shares of Del Taco Restaurants by 4.8% in the fourth quarter. State Street Corp now owns 373,077 shares of the restaurant operator’s stock worth $5,266,000 after buying an additional 17,013 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Del Taco Restaurants during the first quarter worth about $317,000. 65.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Del Taco Restaurants, Inc. (NASDAQ TACO) opened at 12.60 on Friday. Del Taco Restaurants, Inc. has a one year low of $10.55 and a one year high of $15.32. The firm has a 50-day moving average of $12.97 and a 200 day moving average of $13.10. The company has a market cap of $487.44 million, a price-to-earnings ratio of 22.18 and a beta of -0.21.

Del Taco Restaurants (NASDAQ:TACO) last released its earnings results on Thursday, July 27th. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.13. The firm had revenue of $108.60 million for the quarter, compared to analysts’ expectations of $107.08 million. Del Taco Restaurants had a return on equity of 5.90% and a net margin of 4.81%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. Equities research analysts anticipate that Del Taco Restaurants, Inc. will post $0.55 EPS for the current year.

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A number of brokerages recently issued reports on TACO. Zacks Investment Research lowered shares of Del Taco Restaurants from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 target price on shares of Del Taco Restaurants in a research report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Del Taco Restaurants in a research report on Friday, May 5th. Wedbush reaffirmed a “buy” rating and set a $17.00 target price on shares of Del Taco Restaurants in a research report on Friday, May 5th. Finally, BidaskClub lowered shares of Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Del Taco Restaurants presently has a consensus rating of “Buy” and an average target price of $15.57.

About Del Taco Restaurants

Del Taco Restaurants, Inc is an operator and franchisor of restaurants featuring made-to-order cuisine, including both Mexican inspired and American classic dishes. As of January 3, 2017, the Company operated 551 Del Taco restaurants. The Company’s menu offers a combination of Mexican-inspired food, such as tacos and burritos, and American classics, such as Double Del cheeseburgers, crinkle-cut fries and milkshakes.

Institutional Ownership by Quarter for Del Taco Restaurants (NASDAQ:TACO)

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