Ruth’s Hospitality Group, Inc. (RUTH) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 2.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 475,524 shares of the restaurant operator’s stock after selling 12,809 shares during the quarter. Bank of New York Mellon Corp owned about 1.55% of Ruth’s Hospitality Group worth $13,338,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ruth’s Hospitality Group by 126.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,439 shares of the restaurant operator’s stock worth $181,000 after buying an additional 3,600 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Ruth’s Hospitality Group during the 2nd quarter worth approximately $188,000. SG Americas Securities LLC purchased a new position in Ruth’s Hospitality Group during the 2nd quarter worth approximately $247,000. GSA Capital Partners LLP purchased a new position in Ruth’s Hospitality Group during the 2nd quarter worth approximately $270,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Ruth’s Hospitality Group during the 2nd quarter worth approximately $290,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Ruth’s Hospitality Group stock opened at $24.03 on Friday. Ruth’s Hospitality Group, Inc. has a twelve month low of $20.80 and a twelve month high of $33.95. The company has a quick ratio of 0.27, a current ratio of 0.39 and a debt-to-equity ratio of 0.60. The company has a market cap 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 (NASDAQ:RUTH) last posted its quarterly earnings data on Friday, November 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Ruth’s Hospitality Group had a return on equity of 47.19% and a net margin of 8.10%. The company had revenue of $99.02 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, research analysts forecast that Ruth’s Hospitality Group, Inc. will post 1.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, November 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.83%. Ruth’s Hospitality Group’s payout ratio is 40.00%.

A number of research firms recently issued reports on RUTH. Zacks Investment Research upgraded 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 note on Wednesday, August 15th. Citigroup decreased their price objective on Ruth’s Hospitality Group from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, November 12th. Raymond James cut Ruth’s Hospitality Group from an “outperform” rating to a “market perform” rating in a research report on Monday, August 13th. BidaskClub cut Ruth’s Hospitality Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, ValuEngine cut Ruth’s Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, November 26th. Six investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $30.33.

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Ruth’s Hospitality Group Company 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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Institutional Ownership by Quarter for Ruth`s Hospitality Group (NASDAQ:RUTH)

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