Geode Capital Management LLC increased its position in shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 259,707 shares of the restaurant operator’s stock after buying an additional 6,885 shares during the period. Geode Capital Management LLC’s holdings in Ruth’s Hospitality Group were worth $5,207,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Mason Street Advisors LLC boosted its stake in Ruth’s Hospitality Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,935 shares of the restaurant operator’s stock worth $139,000 after buying an additional 455 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Ruth’s Hospitality Group by 9.6% in the first quarter. BNP Paribas Arbitrage SA now owns 7,860 shares of the restaurant operator’s stock worth $158,000 after buying an additional 689 shares during the last quarter. TD Asset Management Inc. bought a new stake in Ruth’s Hospitality Group during the first quarter worth about $209,000. Russell Investments Group Ltd. bought a new stake in Ruth’s Hospitality Group during the fourth quarter worth about $207,000. Finally, Louisiana State Employees Retirement System boosted its stake in Ruth’s Hospitality Group by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the restaurant operator’s stock worth $243,000 after buying an additional 200 shares during the last quarter. Institutional investors own 84.24% of the company’s stock.

Shares of Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) traded up 1.02% during midday trading on Friday, hitting $19.80. 139,941 shares of the company were exchanged. The firm has a market cap of $602.06 million, a P/E ratio of 19.57 and a beta of 0.29. Ruth’s Hospitality Group, Inc. has a one year low of $13.74 and a one year high of $22.65. The company’s 50 day moving average price is $20.83 and its 200 day moving average price is $19.95.

Ruth’s Hospitality Group (NASDAQ:RUTH) last issued its quarterly earnings results on Friday, July 28th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Ruth’s Hospitality Group had a return on equity of 37.86% and a net margin of 7.97%. The business had revenue of $100 million for the quarter, compared to analyst estimates of $99.34 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that Ruth’s Hospitality Group, Inc. will post $1.07 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, August 8th. Ruth’s Hospitality Group’s dividend payout ratio (DPR) is presently 35.64%.

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A number of research firms have issued reports on RUTH. BidaskClub cut Ruth’s Hospitality Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Friday, June 9th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 target price on shares of Ruth’s Hospitality Group in a research note on Sunday, July 30th. Citigroup Inc. reiterated a “neutral” rating and issued a $22.00 target price (up from $20.00) on shares of Ruth’s Hospitality Group in a research note on Monday, May 15th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Ruth’s Hospitality Group in a research note on Thursday, April 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Ruth’s Hospitality Group currently has an average rating of “Hold” and a consensus target price of $21.60.

In other news, CEO Michael P. Odonnell sold 81,800 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.05, for a total transaction of $1,721,890.00. Following the transaction, the chief executive officer now owns 1,194,524 shares of the company’s stock, valued at $25,144,730.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.74% of the company’s stock.

About Ruth’s Hospitality Group

Ruth’s Hospitality Group, Inc develops and operates fine dining restaurants under the name, Ruth’s Chris Steak House. The Company operates through two segments. As of December 25, 2016, the Company-owned steakhouse restaurant segment included 68 Ruth’s Chris Steak House restaurants and one Ruth’s Chris Steak House restaurant, and the franchise operations segment included 81 franchisee-owned Ruth’s Chris Steak House restaurants.

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

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