22Nw LP Has $5.76 Million Position in Carrols Restaurant Group, Inc. (TAST)

22Nw LP trimmed its stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 528,285 shares of the restaurant operator’s stock after selling 40,100 shares during the period. Carrols Restaurant Group makes up approximately 3.4% of 22Nw LP’s portfolio, making the stock its 6th biggest holding. 22Nw LP owned approximately 1.46% of Carrols Restaurant Group worth $5,758,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Royce & Associates LP grew its position in Carrols Restaurant Group by 74.0% during the third quarter. Royce & Associates LP now owns 570,274 shares of the restaurant operator’s stock valued at $6,216,000 after acquiring an additional 242,500 shares during the last quarter. Formula Growth Ltd. grew its position in Carrols Restaurant Group by 25.0% during the third quarter. Formula Growth Ltd. now owns 125,030 shares of the restaurant operator’s stock valued at $1,363,000 after acquiring an additional 25,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Carrols Restaurant Group by 6.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,187,556 shares of the restaurant operator’s stock valued at $23,845,000 after acquiring an additional 131,673 shares during the last quarter. Brown Advisory Inc. grew its position in Carrols Restaurant Group by 45.0% during the third quarter. Brown Advisory Inc. now owns 2,430,927 shares of the restaurant operator’s stock valued at $26,497,000 after acquiring an additional 754,789 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Carrols Restaurant Group by 5.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 150,651 shares of the restaurant operator’s stock valued at $1,643,000 after acquiring an additional 7,887 shares during the last quarter. Institutional investors own 88.48% of the company’s stock.

TAST has been the topic of a number of recent research reports. UBS cut shares of Carrols Restaurant Group from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, September 26th. Raymond James Financial reiterated an “outperform” rating and set a $15.50 price target on shares of Carrols Restaurant Group in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Carrols Restaurant Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 29th. Citigroup increased their price target on shares of Carrols Restaurant Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, ValuEngine cut shares of Carrols Restaurant Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Carrols Restaurant Group currently has a consensus rating of “Buy” and an average price target of $15.33.

In other news, CEO Daniel T. Accordino sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $13.06, for a total transaction of $653,000.00. Following the completion of the sale, the chief executive officer now owns 1,147,860 shares of the company’s stock, valued at $14,991,051.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP William E. Myers sold 6,400 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.96, for a total value of $82,944.00. Following the sale, the vice president now directly owns 77,049 shares of the company’s stock, valued at approximately $998,555.04. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Shares of Carrols Restaurant Group, Inc. (TAST) opened at $13.00 on Wednesday. The firm has a market capitalization of $468.26, a P/E ratio of 107.92, a PEG ratio of 4.86 and a beta of 0.18. Carrols Restaurant Group, Inc. has a 52 week low of $9.90 and a 52 week high of $17.55. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.85 and a current ratio of 0.95.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings data on Wednesday, November 8th. The restaurant operator reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). The company had revenue of $258.24 million for the quarter, compared to analysts’ expectations of $277.00 million. Carrols Restaurant Group had a net margin of 3.13% and a return on equity of 4.61%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. sell-side analysts forecast that Carrols Restaurant Group, Inc. will post 0.13 EPS for the current year.

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Carrols Restaurant Group Profile

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

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

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