Cornerstone Investment Partners LLC Makes New $161,000 Investment in Carrols Restaurant Group, Inc. (NASDAQ:TAST)

Cornerstone Investment Partners LLC bought a new position in shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,459 shares of the restaurant operator’s stock, valued at approximately $161,000.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. increased its position in shares of Carrols Restaurant Group by 73.6% during the fourth quarter. Federated Hermes Inc. now owns 3,257 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 1,381 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Carrols Restaurant Group during the second quarter valued at about $26,000. BluePath Capital Management LLC acquired a new stake in shares of Carrols Restaurant Group during the third quarter valued at about $34,000. Mirabella Financial Services LLP acquired a new stake in shares of Carrols Restaurant Group during the first quarter valued at about $35,000. Finally, Mackenzie Financial Corp increased its position in shares of Carrols Restaurant Group by 21.9% during the fourth quarter. Mackenzie Financial Corp now owns 28,145 shares of the restaurant operator’s stock valued at $38,000 after acquiring an additional 5,059 shares during the last quarter. 86.80% of the stock is owned by hedge funds and other institutional investors.

Carrols Restaurant Group Trading Up 0.2 %

Shares of TAST stock opened at $9.52 on Friday. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.41 and a current ratio of 0.49. The stock has a market capitalization of $546.26 million, a P/E ratio of 18.31 and a beta of 2.50. The company has a 50 day moving average price of $9.48 and a 200 day moving average price of $8.18. Carrols Restaurant Group, Inc. has a fifty-two week low of $3.30 and a fifty-two week high of $9.54.

Carrols Restaurant Group (NASDAQ:TAST) last posted its quarterly earnings results on Friday, March 8th. The restaurant operator reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Carrols Restaurant Group had a net margin of 1.80% and a return on equity of 19.41%. The company had revenue of $470.36 million during the quarter, compared to analysts’ expectations of $470.41 million. Equities research analysts predict that Carrols Restaurant Group, Inc. will post 0.64 EPS for the current fiscal year.

Carrols Restaurant Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, March 11th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, March 8th. Carrols Restaurant Group’s dividend payout ratio (DPR) is presently 15.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on TAST. Stephens reiterated an “equal weight” rating and set a $9.55 price target (down from $13.00) on shares of Carrols Restaurant Group in a research report on Tuesday, January 16th. StockNews.com started coverage on shares of Carrols Restaurant Group in a report on Monday, April 15th. They issued a “buy” rating for the company. Truist Financial restated a “hold” rating and issued a $9.55 price objective (down previously from $10.00) on shares of Carrols Restaurant Group in a report on Monday, January 22nd. Finally, Craig Hallum restated a “hold” rating on shares of Carrols Restaurant Group in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Carrols Restaurant Group currently has an average rating of “Hold” and a consensus target price of $8.87.

Carrols Restaurant Group Profile

Carrols Restaurant Group, Inc, through its subsidiaries, operates restaurants in the United States. It operates quick service restaurants as a franchisee under the Burger King and Popeyes brands in 23 Northeastern, Midwestern, Southcentral, and Southeastern states. The company was founded in 1960 and is headquartered in Syracuse, New York.