Fogo De Chao Inc (NASDAQ:FOGO) Director Todd M. Abbrecht sold 4,500,000 shares of Fogo De Chao stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $14.00, for a total transaction of $63,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Fogo De Chao Inc (NASDAQ:FOGO) traded down 0.36% on Friday, hitting $13.90. 97,660 shares of the stock traded hands. The stock has a market cap of $392.15 million, a price-to-earnings ratio of 17.16 and a beta of 0.44. Fogo De Chao Inc has a 12-month low of $10.50 and a 12-month high of $17.05. The firm’s 50-day moving average price is $15.75 and its 200-day moving average price is $14.46.

Fogo De Chao (NASDAQ:FOGO) last posted its quarterly earnings data on Monday, May 8th. The restaurant operator reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. The company had revenue of $76.40 million during the quarter, compared to the consensus estimate of $75.06 million. Fogo De Chao had a net margin of 10.39% and a return on equity of 9.35%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. On average, equities research analysts anticipate that Fogo De Chao Inc will post $0.93 EPS for the current fiscal year.

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A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Fogo De Chao from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday. Canaccord Genuity upgraded shares of Fogo De Chao from a “hold” rating to a “buy” rating and lifted their price target for the company from $16.00 to $20.00 in a research report on Thursday, May 4th. Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price target on shares of Fogo De Chao in a research report on Wednesday, March 15th. Wells Fargo & Co lifted their price target on shares of Fogo De Chao from $13.25 to $15.50 and gave the company an “in-line” rating in a research report on Wednesday, March 15th. Finally, Deutsche Bank AG lifted their price target on shares of Fogo De Chao from $14.50 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, March 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Fogo De Chao presently has an average rating of “Hold” and an average target price of $16.36.

A number of hedge funds have recently bought and sold shares of FOGO. Two Sigma Investments LP acquired a new stake in Fogo De Chao during the fourth quarter worth about $183,000. KDI Capital Partners LLC increased its stake in Fogo De Chao by 16.5% in the third quarter. KDI Capital Partners LLC now owns 20,537 shares of the restaurant operator’s stock worth $217,000 after buying an additional 2,902 shares during the period. Redmond Asset Management LLC increased its stake in Fogo De Chao by 0.5% in the fourth quarter. Redmond Asset Management LLC now owns 20,249 shares of the restaurant operator’s stock worth $291,000 after buying an additional 100 shares during the period. Oxford Asset Management acquired a new stake in Fogo De Chao during the first quarter worth about $553,000. Finally, Geode Capital Management LLC increased its stake in Fogo De Chao by 5.9% in the first quarter. Geode Capital Management LLC now owns 50,548 shares of the restaurant operator’s stock worth $821,000 after buying an additional 2,808 shares during the period. 91.20% of the stock is owned by hedge funds and other institutional investors.

About Fogo De Chao

Fogo de Chao, Inc is a United States-based holding company. The Company, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc (Brasa Purchaser), which owns 100% of Brasa (Holdings) Inc (Brasa Holdings).

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