State of Alaska Department of Revenue boosted its stake in shares of Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) by 77.1% during the second quarter, Holdings Channel reports. The firm owned 5,826 shares of the restaurant operator’s stock after buying an additional 2,536 shares during the period. State of Alaska Department of Revenue’s holdings in Ruth’s Hospitality Group were worth $126,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of Ruth’s Hospitality Group by 1,630.9% in the first quarter. Bank of Montreal Can now owns 19,075 shares of the restaurant operator’s stock valued at $382,000 after buying an additional 17,973 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new stake in Ruth’s Hospitality Group during the first quarter valued at $448,000. Russell Investments Group Ltd. bought a new stake in Ruth’s Hospitality Group during the fourth quarter valued at $207,000. Cadence Capital Management LLC increased its stake in Ruth’s Hospitality Group by 47.6% in the first quarter. Cadence Capital Management LLC now owns 61,756 shares of the restaurant operator’s stock valued at $1,238,000 after buying an additional 19,914 shares during the last quarter. Finally, Comerica Bank increased its stake in 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 during the last quarter. 84.24% of the stock is owned by institutional investors.

Ruth’s Hospitality Group, Inc. (NASDAQ RUTH) traded up 0.383% during midday trading on Friday, reaching $19.675. 52,319 shares of the company traded hands. The company has a market cap of $598.26 million, a price-to-earnings ratio of 19.442 and a beta of 0.29. Ruth’s Hospitality Group, Inc. has a 12-month low of $13.74 and a 12-month high of $22.65. The company has a 50-day moving average price of $20.89 and a 200-day moving average price of $19.93.

Ruth’s Hospitality Group (NASDAQ:RUTH) last announced its earnings results on Friday, July 28th. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $100 million for the quarter, compared to analysts’ expectations of $99.34 million. Ruth’s Hospitality Group had a return on equity of 37.86% and a net margin of 7.97%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, analysts predict that Ruth’s Hospitality Group, Inc. will post $1.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, August 8th. Ruth’s Hospitality Group’s dividend payout ratio is 35.64%.

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RUTH has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of Ruth’s Hospitality Group in a report on Friday, May 5th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $22.50) on shares of Ruth’s Hospitality Group in a report on Monday, July 10th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Ruth’s Hospitality Group in a report on Thursday, April 20th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Ruth’s Hospitality Group from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Friday, June 9th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $22.00 price objective (up previously from $20.00) on shares of Ruth’s Hospitality Group in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.60.

In related 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 value of $1,721,890.00. Following the transaction, the chief executive officer now owns 1,194,524 shares in the company, valued at $25,144,730.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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