Carrols Restaurant Group Inc (NASDAQ:TAST) Stake Cut by State Street Corp

State Street Corp reduced its holdings in Carrols Restaurant Group Inc (NASDAQ:TAST) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 714,969 shares of the restaurant operator’s stock after selling 9,896 shares during the period. State Street Corp owned about 1.36% of Carrols Restaurant Group worth $1,301,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Carrols Restaurant Group by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 268,539 shares of the restaurant operator’s stock worth $1,894,000 after purchasing an additional 23,361 shares in the last quarter. Barclays PLC raised its stake in shares of Carrols Restaurant Group by 101.4% during the 4th quarter. Barclays PLC now owns 35,488 shares of the restaurant operator’s stock worth $250,000 after purchasing an additional 17,867 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Carrols Restaurant Group during the 1st quarter worth about $206,000. Cubist Systematic Strategies LLC raised its stake in shares of Carrols Restaurant Group by 104.7% during the 4th quarter. Cubist Systematic Strategies LLC now owns 21,633 shares of the restaurant operator’s stock worth $153,000 after purchasing an additional 11,063 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Carrols Restaurant Group by 66.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,350 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 8,550 shares in the last quarter. 46.65% of the stock is owned by hedge funds and other institutional investors.

TAST opened at $4.75 on Wednesday. The firm has a market capitalization of $238.84 million, a P/E ratio of -5.40 and a beta of 2.34. The stock’s 50 day moving average price is $4.49 and its two-hundred day moving average price is $4.34. The company has a quick ratio of 0.46, a current ratio of 0.54 and a debt-to-equity ratio of 4.70. Carrols Restaurant Group Inc has a 12-month low of $0.98 and a 12-month high of $9.76.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Thursday, May 7th. The restaurant operator reported ($0.38) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.38). Carrols Restaurant Group had a negative return on equity of 8.11% and a negative net margin of 2.81%. The firm had revenue of $351.52 million for the quarter, compared to analyst estimates of $362.91 million. As a group, analysts anticipate that Carrols Restaurant Group Inc will post -0.32 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. Stephens began coverage on Carrols Restaurant Group in a research note on Tuesday. They set an “overweight” rating and a $8.00 price target for the company. Craig Hallum increased their price objective on Carrols Restaurant Group from $5.00 to $8.00 in a report on Monday, June 15th. Raymond James lowered Carrols Restaurant Group from an “outperform” rating to a “market perform” rating in a report on Thursday, April 2nd. Zacks Investment Research raised Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, SunTrust Banks increased their price objective on Carrols Restaurant Group from $4.00 to $6.00 and gave the company a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Carrols Restaurant Group has an average rating of “Buy” and an average price target of $7.10.

Carrols Restaurant Group Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates franchisee restaurants of Burger King in the United States. As of May 7, 2019, it owned and operated 1,010 Burger King and 55 Popeyes restaurants in 23 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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