Federated Hermes Inc. Buys 1,381 Shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST)

Federated Hermes Inc. grew its stake in shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) by 73.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,257 shares of the restaurant operator’s stock after purchasing an additional 1,381 shares during the period. Federated Hermes Inc.’s holdings in Carrols Restaurant Group were worth $26,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mackenzie Financial Corp boosted its position in Carrols Restaurant Group by 18.7% during the 4th quarter. Mackenzie Financial Corp now owns 12,830 shares of the restaurant operator’s stock valued at $101,000 after acquiring an additional 2,022 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Carrols Restaurant Group during the third quarter valued at approximately $98,000. SG Americas Securities LLC bought a new stake in shares of Carrols Restaurant Group during the third quarter valued at approximately $104,000. Corton Capital Inc. purchased a new stake in Carrols Restaurant Group in the third quarter worth $107,000. Finally, Aigen Investment Management LP bought a new position in Carrols Restaurant Group in the third quarter worth $117,000. Hedge funds and other institutional investors own 86.80% of the company’s stock.

Carrols Restaurant Group Stock Performance

Shares of TAST stock opened at $9.53 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 2.28. The stock has a market capitalization of $546.83 million, a price-to-earnings ratio of 18.33 and a beta of 2.48. Carrols Restaurant Group, Inc. has a 12-month low of $3.67 and a 12-month high of $9.54. The stock’s 50-day moving average price is $9.49 and its 200-day moving average price is $8.53.

Carrols Restaurant Group (NASDAQ:TAST) last released its quarterly earnings results on Friday, March 8th. The restaurant operator reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $470.36 million during the quarter, compared to analysts’ expectations of $470.41 million. Carrols Restaurant Group had a return on equity of 19.41% and a net margin of 1.80%. 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 firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 11th were given a $0.02 dividend. 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 is presently 15.38%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Craig Hallum restated a “hold” rating on shares of Carrols Restaurant Group in a research report on Wednesday, January 17th. Truist Financial reaffirmed a “hold” rating and issued a $9.55 price objective (down previously from $10.00) on shares of Carrols Restaurant Group in a research note on Monday, January 22nd. Stephens restated an “equal weight” rating and issued a $9.55 price target (down from $13.00) on shares of Carrols Restaurant Group in a research note on Tuesday, January 16th. Finally, StockNews.com began coverage on shares of Carrols Restaurant Group in a report on Wednesday, May 1st. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.87.

Carrols Restaurant Group Company 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.