Todays Report: The Bank of New York Mellon Corp Boosts Position in Del Frisco’s Restaurant Group Inc. (DFRG)

The Bank of New York Mellon Corp Boosts Position in Del Frisco’s Restaurant Group Inc. (DFRG)

Bank of New York Mellon Corp raised its stake in shares of Del Frisco’s Restaurant Group Inc. (NASDAQ:DFRG) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 94,177 shares of the company’s stock after buying an additional 225 shares during the period. Bank of New York Mellon Corp owned 0.40% of Del Frisco’s Restaurant Group worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Cutler Group LP raised its stake in Del Frisco’s Restaurant Group by 81.7% in the second quarter. Cutler Group LP now owns 8,924 shares of the company’s stock valued at $127,000 after buying an additional 4,013 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Del Frisco’s Restaurant Group by 4.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,168 shares of the company’s stock valued at $301,000 after buying an additional 776 shares in the last quarter. Stoneridge Investment Partners LLC raised its stake in Del Frisco’s Restaurant Group by 2.6% in the second quarter. Stoneridge Investment Partners LLC now owns 21,270 shares of the company’s stock valued at $305,000 after buying an additional 537 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in Del Frisco’s Restaurant Group during the first quarter valued at approximately $526,000. Finally, Kempen Capital Management N.V. raised its stake in Del Frisco’s Restaurant Group by 62.6% in the first quarter. Kempen Capital Management N.V. now owns 35,242 shares of the company’s stock valued at $584,000 after buying an additional 13,568 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Del Frisco’s Restaurant Group Inc. (NASDAQ:DFRG) traded up 0.30% during trading on Wednesday, reaching $13.33. 64,074 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $14.30 and its 200-day moving average price is $15.14. The stock has a market capitalization of $311.28 million, a price-to-earnings ratio of 18.77 and a beta of 0.89. Del Frisco’s Restaurant Group Inc. has a 52 week low of $12.94 and a 52 week high of $17.15.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Del Frisco’s Restaurant Group had a net margin of 4.87% and a return on equity of 8.33%. The company had revenue of $79.90 million for the quarter, compared to the consensus estimate of $80.79 million. During the same period in the previous year, the firm earned $0.20 EPS. Del Frisco’s Restaurant Group’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Del Frisco’s Restaurant Group Inc. will post $0.83 EPS for the current year.

Several analysts have recently commented on the stock. Credit Suisse Group AG reiterated a “hold” rating and issued a $17.00 price target on shares of Del Frisco’s Restaurant Group in a research report on Friday, June 17th. Canaccord Genuity initiated coverage on shares of Del Frisco’s Restaurant Group in a research note on Monday, August 22nd. They set a “hold” rating and a $15.00 price objective on the stock. Zacks Investment Research downgraded shares of Del Frisco’s Restaurant Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Stifel Nicolaus downgraded shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $23.00 to $14.00 in a research note on Tuesday, July 26th. Finally, TheStreet downgraded shares of Del Frisco’s Restaurant Group from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.

Del Frisco’s Restaurant Group Company Profile

Del Frisco’s Restaurant Group, Inc is engaged in developing, owning and operating restaurants. The Company’s complementary restaurants include Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). Its operating segments are Del Frisco’s, Sullivan’s and Del Frisco’s Grille.

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