Bank of New York Mellon Corp Has $9.36 Million Holdings in Red Robin Gourmet Burgers, Inc. (RRGB)

Bank of New York Mellon Corp cut its position in Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 165,946 shares of the restaurant operator’s stock after selling 5,030 shares during the quarter. Bank of New York Mellon Corp’s holdings in Red Robin Gourmet Burgers were worth $9,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cramer Rosenthal Mcglynn LLC raised its holdings in Red Robin Gourmet Burgers by 17.4% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 295,186 shares of the restaurant operator’s stock worth $19,777,000 after purchasing an additional 43,720 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth $1,410,000. Chartwell Investment Partners LLC acquired a new stake in Red Robin Gourmet Burgers in the fourth quarter worth $3,900,000. JPMorgan Chase & Co. raised its holdings in Red Robin Gourmet Burgers by 124.5% in the third quarter. JPMorgan Chase & Co. now owns 144,091 shares of the restaurant operator’s stock worth $9,554,000 after purchasing an additional 79,921 shares during the period. Finally, Pinebridge Investments L.P. raised its holdings in Red Robin Gourmet Burgers by 17.5% in the fourth quarter. Pinebridge Investments L.P. now owns 20,013 shares of the restaurant operator’s stock worth $1,129,000 after purchasing an additional 2,985 shares during the period.

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Several research firms have weighed in on RRGB. BidaskClub lowered shares of Red Robin Gourmet Burgers from a “strong-buy” rating to a “buy” rating in a report on Friday, March 23rd. Morgan Stanley reissued an “equal weight” rating and set a $56.00 price objective (down previously from $57.00) on shares of Red Robin Gourmet Burgers in a research report on Monday, February 26th. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, January 31st. Finally, Jefferies Group raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $63.00 in a research report on Saturday, December 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $66.73.

In related news, Director Richard J. Howell sold 3,416 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $62.79, for a total value of $214,490.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pattye L. Moore sold 1,500 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $57.98, for a total transaction of $86,970.00. Following the completion of the transaction, the director now directly owns 3,047 shares of the company’s stock, valued at approximately $176,665.06. The disclosure for this sale can be found here. 2.66% of the stock is currently owned by company insiders.

Shares of RRGB stock opened at $58.00 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.65 and a debt-to-equity ratio of 0.71. Red Robin Gourmet Burgers, Inc. has a 12-month low of $45.70 and a 12-month high of $74.11. The firm has a market cap of $751.56, a PE ratio of 23.29, a P/E/G ratio of 2.26 and a beta of 0.41.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Thursday, February 22nd. The restaurant operator reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.24. Red Robin Gourmet Burgers had a net margin of 2.17% and a return on equity of 8.63%. The company had revenue of $342.35 million during the quarter, compared to the consensus estimate of $330.51 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post 2.65 EPS for the current fiscal year.

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Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

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Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

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