Del Taco Restaurants, Inc. (NASDAQ:TACO) announced a quarterly dividend on Thursday, January 13th, Wall Street Journal reports. Shareholders of record on Tuesday, February 1st will be paid a dividend of 0.04 per share by the restaurant operator on Tuesday, February 22nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, January 31st.
Del Taco Restaurants has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Del Taco Restaurants to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 29.1%.
Shares of Del Taco Restaurants stock traded up $0.03 during trading on Thursday, hitting $12.50. 42,658 shares of the stock traded hands, compared to its average volume of 1,765,851. The company has a market capitalization of $454.88 million, a PE ratio of 23.59 and a beta of 2.13. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 0.49. Del Taco Restaurants has a twelve month low of $7.34 and a twelve month high of $12.56. The business’s fifty day moving average is $10.59.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Del Taco Restaurants by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 176,945 shares of the restaurant operator’s stock worth $1,545,000 after buying an additional 3,594 shares during the period. Invesco Ltd. increased its position in Del Taco Restaurants by 6.6% in the 3rd quarter. Invesco Ltd. now owns 81,462 shares of the restaurant operator’s stock worth $711,000 after buying an additional 5,052 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Del Taco Restaurants by 146.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,426 shares of the restaurant operator’s stock worth $82,000 after buying an additional 5,601 shares during the period. 87.79% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on TACO shares. Zacks Investment Research lowered Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, December 15th. Benchmark lowered Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Tuesday, December 7th. Wedbush restated a “buy” rating and issued a $15.00 target price on shares of Del Taco Restaurants in a report on Friday, October 15th. Finally, Jefferies Financial Group lowered Del Taco Restaurants from a “buy” rating to a “hold” rating and reduced their target price for the stock from $14.00 to $12.51 in a report on Tuesday, December 7th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.50.
Del Taco Restaurants Company Profile
Del Taco Restaurants, Inc engages in developing, franchising, owning, and operating dining place. It features made-to-order cuisine both Mexican inspired and American classic dishes. Its menu includes tacos and burritos, Double Del cheeseburgers, crinkle-cut fries, and milkshakes. The company was founded by Ed Hackbarth and David Jameson in 1964 and is headquartered in Lake Forest, CA.
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