Parametric Portfolio Associates LLC boosted its position in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 27.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 65,048 shares of the restaurant operator’s stock after acquiring an additional 13,851 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of Ruth’s Hospitality Group worth $1,415,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in Ruth’s Hospitality Group by 77.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,826 shares of the restaurant operator’s stock worth $126,000 after acquiring an additional 2,536 shares during the period. Advisor Group Inc. acquired a new position in shares of Ruth’s Hospitality Group in the 2nd quarter valued at $150,000. HL Financial Services LLC acquired a new position in shares of Ruth’s Hospitality Group in the 2nd quarter valued at $206,000. Trexquant Investment LP acquired a new position in shares of Ruth’s Hospitality Group in the 2nd quarter valued at $209,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Ruth’s Hospitality Group in the 2nd quarter valued at $212,000. 79.79% of the stock is owned by hedge funds and other institutional investors.
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Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) opened at $19.80 on Wednesday. The firm has a market cap of $616.18, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.34 and a beta of 0.34. Ruth’s Hospitality Group, Inc. has a 1-year low of $15.75 and a 1-year high of $22.65. The company has a quick ratio of 0.29, a current ratio of 0.41 and a debt-to-equity ratio of 0.37.
Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its quarterly earnings results on Friday, November 3rd. The restaurant operator reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $85.16 million during the quarter, compared to analyst estimates of $87.20 million. Ruth’s Hospitality Group had a net margin of 7.47% and a return on equity of 35.46%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. equities research analysts expect that Ruth’s Hospitality Group, Inc. will post 1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be issued a dividend of $0.09 per share. This is a positive change from Ruth’s Hospitality Group’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. Ruth’s Hospitality Group’s payout ratio is presently 37.90%.
Ruth’s Hospitality Group declared that its board has authorized a stock buyback plan on Friday, November 3rd that allows the company to buyback $60.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on RUTH shares. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price target on shares of Ruth’s Hospitality Group in a report on Thursday, August 31st. Zacks Investment Research upgraded shares of Ruth’s Hospitality Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub upgraded shares of Ruth’s Hospitality Group from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Ruth’s Hospitality Group in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $22.00.
About Ruth’s Hospitality Group
Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.
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