Hillsdale Investment Management Inc. Buys 21,900 Shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST)

Hillsdale Investment Management Inc. raised its stake in Carrols Restaurant Group, Inc. (NASDAQ:TAST) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 646,720 shares of the restaurant operator’s stock after buying an additional 21,900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Carrols Restaurant Group were worth $5,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TAST. Federated Hermes Inc. increased its holdings in shares of Carrols Restaurant Group by 73.6% in the fourth quarter. Federated Hermes Inc. now owns 3,257 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 1,381 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Carrols Restaurant Group by 18.7% in the fourth quarter. Mackenzie Financial Corp now owns 12,830 shares of the restaurant operator’s stock worth $101,000 after acquiring an additional 2,022 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Carrols Restaurant Group by 11.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 36,784 shares of the restaurant operator’s stock worth $242,000 after acquiring an additional 3,860 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Carrols Restaurant Group by 27.6% in the fourth quarter. SG Americas Securities LLC now owns 20,092 shares of the restaurant operator’s stock worth $158,000 after acquiring an additional 4,348 shares during the last quarter. Finally, AJOVista LLC bought a new position in shares of Carrols Restaurant Group in the fourth quarter worth about $76,000. Institutional investors own 86.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TAST shares. StockNews.com started coverage on shares of Carrols Restaurant Group in a report on Friday. They issued a “buy” rating for the company. Truist Financial reiterated 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. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.55.

Carrols Restaurant Group Stock Performance

NASDAQ:TAST remained flat at $9.54 on Friday. The stock has a market cap of $502.00 million, a P/E ratio of 16.74 and a beta of 2.48. The company has a fifty day simple moving average of $9.51 and a 200-day simple moving average of $8.75. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.41 and a current ratio of 0.48. Carrols Restaurant Group, Inc. has a 52 week low of $4.29 and a 52 week high of $9.56.

Carrols Restaurant Group (NASDAQ:TAST) last released its earnings results on Friday, March 8th. The restaurant operator reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $470.36 million during the quarter, compared to the consensus estimate of $470.41 million. Carrols Restaurant Group had a net margin of 1.94% and a return on equity of 22.38%.

Carrols Restaurant Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Monday, March 11th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, March 8th. Carrols Restaurant Group’s dividend payout ratio (DPR) is 14.04%.

About Carrols Restaurant Group

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.