Carrols Restaurant Group, Inc. (NASDAQ:TAST) Stake Held by Brown Advisory Inc

Brown Advisory Inc

revealed that they own 5.4% of Carrols Restaurant Group, Inc. (NASDAQ:TAST) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 9th. The investor owns 1,952,441 shares of the stock worth about $21,769,717. The reporting parties listed on the disclosure included Brown Advisory Incorporated ("BA, Inc"), Brown Investment Advisory & Trust Company ("BIATC") and Brown Advisory LLC ("BA LLC"). The filing is available through EDGAR at this link.

Brown Advisory Inc

provided the following explanation of their ownership:

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Several other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Carrols Restaurant Group by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 166,069 shares of the restaurant operator’s stock valued at $2,350,000 after buying an additional 5,526 shares during the last quarter. Markston International LLC boosted its stake in shares of Carrols Restaurant Group by 129.0% in the first quarter. Markston International LLC now owns 7,100 shares of the restaurant operator’s stock worth $100,000 after buying an additional 4,000 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Carrols Restaurant Group by 7.6% in the first quarter. Advisors Asset Management Inc. now owns 39,175 shares of the restaurant operator’s stock worth $554,000 after buying an additional 2,778 shares during the period. Monarch Partners Asset Management LLC boosted its stake in shares of Carrols Restaurant Group by 557.3% in the first quarter. Monarch Partners Asset Management LLC now owns 199,675 shares of the restaurant operator’s stock worth $2,825,000 after buying an additional 169,295 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Carrols Restaurant Group by 34.3% in the first quarter. Wells Fargo & Company MN now owns 37,085 shares of the restaurant operator’s stock worth $525,000 after buying an additional 9,465 shares during the period. 85.00% of the stock is owned by institutional investors and hedge funds.

Shares of Carrols Restaurant Group, Inc. (NASDAQ:TAST) traded down 1.76% on Friday, reaching $11.15. The company had a trading volume of 168,884 shares. Carrols Restaurant Group, Inc. has a 52-week low of $9.60 and a 52-week high of $17.55. The company has a 50 day moving average price of $12.01 and a 200 day moving average price of $13.39. The stock has a market capitalization of $395.01 million, a PE ratio of 14.91 and a beta of 0.02.

Carrols Restaurant Group (NASDAQ:TAST) last announced its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.05. Carrols Restaurant Group had a net margin of 3.44% and a return on equity of 6.33%. The firm had revenue of $279.48 million during the quarter, compared to the consensus estimate of $274.90 million. During the same period last year, the business earned $0.18 EPS. The business’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Carrols Restaurant Group, Inc. will post $0.21 earnings per share for the current year.

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A number of equities research analysts have commented on TAST shares. Zacks Investment Research upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine upgraded Carrols Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $17.50 price objective on shares of Carrols Restaurant Group in a report on Monday, July 24th. Finally, Dougherty & Co decreased their price objective on Carrols Restaurant Group from $18.50 to $15.50 and set a “buy” rating on the stock in a report on Thursday, August 10th.

Carrols Restaurant Group Company Profile

Carrols Restaurant Group, Inc is a holding company and conducts all of its operations through its subsidiary, Carrols Corporation (Carrols) and Carrols’ subsidiary, Carrols LLC. The Company is a restaurant company and Burger King franchisee in the United States. As of January 1, 2017, the Company had owned and operated 753 Burger King restaurants under the name Burger King in 16 Northeastern, Midwestern and Southeastern states.

Institutional Ownership by Quarter for Carrols Restaurant Group (NASDAQ:TAST)

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