Meeder Asset Management Inc. Buys Shares of 2,210 Ruth’s Hospitality Group, Inc. (RUTH)

Meeder Asset Management Inc. bought a new position in Ruth’s Hospitality Group, Inc. (NASDAQ:RUTH) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,210 shares of the restaurant operator’s stock, valued at approximately $57,000.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Ruth’s Hospitality Group by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 496,859 shares of the restaurant operator’s stock worth $15,676,000 after acquiring an additional 21,335 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Ruth’s Hospitality Group by 61.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,054 shares of the restaurant operator’s stock worth $664,000 after acquiring an additional 8,027 shares in the last quarter. Legal & General Group Plc raised its position in shares of Ruth’s Hospitality Group by 6.8% in the 3rd quarter. Legal & General Group Plc now owns 60,687 shares of the restaurant operator’s stock worth $1,912,000 after acquiring an additional 3,839 shares in the last quarter. Morgan Stanley raised its position in shares of Ruth’s Hospitality Group by 32.3% in the 3rd quarter. Morgan Stanley now owns 396,250 shares of the restaurant operator’s stock worth $12,501,000 after acquiring an additional 96,784 shares in the last quarter. Finally, Sawgrass Asset Management LLC raised its position in shares of Ruth’s Hospitality Group by 2.5% in the 3rd quarter. Sawgrass Asset Management LLC now owns 20,500 shares of the restaurant operator’s stock worth $647,000 after acquiring an additional 500 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:RUTH traded down $0.56 during mid-day trading on Wednesday, hitting $24.24. 112,903 shares of the company’s stock traded hands, compared to its average volume of 192,029. Ruth’s Hospitality Group, Inc. has a twelve month low of $21.70 and a twelve month high of $33.95. The firm has a market capitalization of $750.72 million, a P/E ratio of 17.44, a P/E/G ratio of 1.20 and a beta of 0.54. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.30 and a quick ratio of 0.20.

Ruth’s Hospitality Group (NASDAQ:RUTH) last posted its quarterly earnings results on Friday, May 3rd. The restaurant operator reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $119.70 million for the quarter, compared to the consensus estimate of $119.61 million. Ruth’s Hospitality Group had a return on equity of 45.79% and a net margin of 9.21%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. On average, analysts expect that Ruth’s Hospitality Group, Inc. will post 1.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.52 annualized dividend and a yield of 2.15%. Ruth’s Hospitality Group’s payout ratio is presently 37.41%.

RUTH has been the subject of several recent research reports. Zacks Investment Research lowered Ruth’s Hospitality Group from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. BidaskClub raised Ruth’s Hospitality Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $30.00.

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About Ruth’s Hospitality Group

Ruth's Hospitality Group, Inc, together with its subsidiaries, develops, operates, and franchises fine dining restaurants under the Ruth's Chris Steak House name. Its restaurants offer food and beverage products to special occasion diners and frequent customers, as well as business clientele.

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

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