JPMorgan Chase & Co. cut its position in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 32.0% during the third quarter, Holdings Channel reports. The institutional investor owned 455,981 shares of the restaurant operator’s stock after selling 214,718 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ruth’s Hospitality Group were worth $14,387,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of RUTH. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ruth’s Hospitality Group by 126.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,439 shares of the restaurant operator’s stock worth $181,000 after purchasing an additional 3,600 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Ruth’s Hospitality Group in the 2nd quarter worth $188,000. SG Americas Securities LLC acquired a new stake in Ruth’s Hospitality Group in the 2nd quarter worth $247,000. GSA Capital Partners LLP acquired a new stake in Ruth’s Hospitality Group in the 2nd quarter worth $270,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Ruth’s Hospitality Group in the 2nd quarter worth $290,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
Several analysts have issued reports on the stock. Raymond James lowered shares of Ruth’s Hospitality Group from an “outperform” rating to a “market perform” rating in a research report on Monday, August 13th. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, August 15th. BidaskClub upgraded shares of Ruth’s Hospitality Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Citigroup decreased their price target on shares of Ruth’s Hospitality Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, November 12th. Finally, ValuEngine lowered shares of Ruth’s Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Six research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $30.33.
NASDAQ RUTH opened at $24.03 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.27 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $732.34 million, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.21 and a beta of 0.49. Ruth’s Hospitality Group, Inc. has a 52-week low of $20.80 and a 52-week high of $33.95.
Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its quarterly earnings results on Friday, November 2nd. The restaurant operator reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $99.02 million for the quarter, compared to analyst estimates of $95.85 million. Ruth’s Hospitality Group had a net margin of 8.10% and a return on equity of 47.19%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. Research analysts forecast that Ruth’s Hospitality Group, Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Wednesday, November 14th. Ruth’s Hospitality Group’s payout ratio is 40.00%.
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Ruth’s Hospitality Group Profile
Ruth's Hospitality Group, Inc, together with its subsidiaries, develops, operates, and franchises fine dining restaurants under the Ruth's Chris Steak House name. Its restaurants offer food and beverage products to special occasion diners and frequent customers, as well as business clientele.
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