Vanguard Group Inc. boosted its stake in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,334,309 shares of the restaurant operator’s stock after buying an additional 60,769 shares during the period. Vanguard Group Inc. owned about 0.08% of Ruth’s Hospitality Group worth $46,802,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Virginia Retirement Systems ET AL purchased a new stake in shares of Ruth’s Hospitality Group during the first quarter valued at approximately $437,000. TD Asset Management Inc. purchased a new stake in shares of Ruth’s Hospitality Group during the first quarter valued at approximately $209,000. Opus Capital Group LLC raised its stake in shares of Ruth’s Hospitality Group by 0.3% in the first quarter. Opus Capital Group LLC now owns 14,116 shares of the restaurant operator’s stock valued at $283,000 after buying an additional 48 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Ruth’s Hospitality Group during the first quarter valued at approximately $302,000. Finally, Comerica Bank raised its stake in shares of Ruth’s Hospitality Group by 3.6% in the first quarter. Comerica Bank now owns 28,227 shares of the restaurant operator’s stock valued at $567,000 after buying an additional 988 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.

Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) traded down 0.26% during midday trading on Friday, hitting $19.55. The stock had a trading volume of 15,680 shares. Ruth’s Hospitality Group, Inc. has a 12-month low of $13.74 and a 12-month high of $22.65. The company’s 50-day moving average price is $20.89 and its 200 day moving average price is $19.93. The stock has a market cap of $594.46 million, a P/E ratio of 19.32 and a beta of 0.29.

Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its earnings results on Friday, July 28th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $100 million for the quarter, compared to analyst estimates of $99.34 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Ruth’s Hospitality Group, Inc. will post $1.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.36 annualized dividend and a yield of 1.84%. Ruth’s Hospitality Group’s dividend payout ratio (DPR) is currently 35.64%.

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A number of equities research analysts have recently issued reports on RUTH shares. Zacks Investment Research upgraded Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $25.00 target price for the company 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 Friday, June 16th. BidaskClub lowered Ruth’s Hospitality Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Deutsche Bank AG reiterated a “buy” rating and issued a $24.00 target price (up previously from $22.50) on shares of Ruth’s Hospitality Group in a research note on Monday, July 10th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $22.00 target price (up previously from $20.00) on shares of Ruth’s Hospitality Group in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.60.

In other Ruth’s Hospitality Group news, CEO Michael P. Odonnell sold 81,800 shares of the firm’s stock in a transaction dated 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 directly owns 1,194,524 shares in the company, valued at $25,144,730.20. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.74% of the stock is owned by company insiders.

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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