Granite Investment Partners LLC Trims Stake in Del Taco Restaurants Inc (NASDAQ:TACO)

Granite Investment Partners LLC trimmed its stake in Del Taco Restaurants Inc (NASDAQ:TACO) by 14.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,201 shares of the restaurant operator’s stock after selling 19,842 shares during the period. Granite Investment Partners LLC owned 0.30% of Del Taco Restaurants worth $1,767,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TACO. UBS Asset Management Americas Inc. purchased a new stake in shares of Del Taco Restaurants in the 1st quarter worth $322,000. American International Group Inc. boosted its holdings in Del Taco Restaurants by 7.0% in the 1st quarter. American International Group Inc. now owns 14,229 shares of the restaurant operator’s stock worth $189,000 after buying an additional 927 shares during the period. Vanguard Group Inc. boosted its holdings in Del Taco Restaurants by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 1,233,306 shares of the restaurant operator’s stock worth $16,354,000 after buying an additional 81,525 shares during the period. Geode Capital Management LLC boosted its holdings in Del Taco Restaurants by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 276,260 shares of the restaurant operator’s stock worth $3,663,000 after buying an additional 6,730 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Del Taco Restaurants by 35.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,603,064 shares of the restaurant operator’s stock worth $21,257,000 after buying an additional 422,749 shares during the period. Hedge funds and other institutional investors own 81.39% of the company’s stock.

Several research analysts recently weighed in on the stock. TheStreet downgraded shares of Del Taco Restaurants from a “b-” rating to a “c+” rating in a report on Friday, October 20th. Wedbush reissued a “buy” rating and set a $17.00 price objective on shares of Del Taco Restaurants in a report on Friday, October 20th. Maxim Group reissued a “buy” rating and set a $19.00 price objective on shares of Del Taco Restaurants in a report on Friday, October 20th. BTIG Research dropped their price objective on shares of Del Taco Restaurants from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, October 20th. Finally, Zacks Investment Research downgraded shares of Del Taco Restaurants from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.67.

In other news, Director Lawrence F. Levy acquired 200,000 shares of Del Taco Restaurants stock in a transaction that occurred on Monday, October 23rd. The shares were bought at an average cost of $12.54 per share, with a total value of $2,508,000.00. Following the transaction, the director now directly owns 18,356 shares of the company’s stock, valued at approximately $230,184.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.60% of the company’s stock.

Del Taco Restaurants Inc (NASDAQ:TACO) traded down $0.02 during trading on Thursday, reaching $12.09. 199,312 shares of the company were exchanged, compared to its average volume of 383,953. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.29 and a quick ratio of 0.24. Del Taco Restaurants Inc has a 12 month low of $11.58 and a 12 month high of $15.99. The stock has a market cap of $465.67, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.34 and a beta of -0.29.

Del Taco Restaurants (NASDAQ:TACO) last posted its quarterly earnings data on Thursday, October 19th. The restaurant operator reported $0.13 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.13. Del Taco Restaurants had a net margin of 4.78% and a return on equity of 5.89%. The company had revenue of $110.99 million for the quarter, compared to analyst estimates of $110.46 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. equities analysts predict that Del Taco Restaurants Inc will post 0.54 EPS for the current year.

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Del Taco Restaurants Profile

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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