American International Group Inc. raised its stake in Zoe’s Kitchen, Inc. (NYSE:ZOES) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,765 shares of the restaurant operator’s stock after buying an additional 781 shares during the period. American International Group Inc.’s holdings in Zoe’s Kitchen were worth $218,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Peregrine Capital Management LLC increased its position in shares of Zoe’s Kitchen by 28.6% in the first quarter. Peregrine Capital Management LLC now owns 821,116 shares of the restaurant operator’s stock valued at $15,207,000 after buying an additional 182,507 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Zoe’s Kitchen during the first quarter valued at approximately $1,003,000. Brown Capital Management LLC increased its position in shares of Zoe’s Kitchen by 1.7% in the first quarter. Brown Capital Management LLC now owns 3,277,985 shares of the restaurant operator’s stock valued at $60,643,000 after buying an additional 53,239 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Zoe’s Kitchen during the fourth quarter valued at approximately $1,282,000. Finally, Norges Bank purchased a new position in shares of Zoe’s Kitchen during the fourth quarter valued at approximately $936,000.
Shares of Zoe’s Kitchen, Inc. (NYSE:ZOES) traded down 0.69% during midday trading on Wednesday, reaching $11.48. 266,249 shares of the company’s stock were exchanged. Zoe’s Kitchen, Inc. has a 12-month low of $10.77 and a 12-month high of $37.70. The stock’s 50 day moving average price is $11.81 and its 200 day moving average price is $16.70. The company has a market cap of $223.72 million, a price-to-earnings ratio of 546.67 and a beta of 0.37.
Zoe’s Kitchen (NYSE:ZOES) last posted its earnings results on Friday, June 2nd. The restaurant operator reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Zoe’s Kitchen had a net margin of 0.15% and a return on equity of 0.62%. The business had revenue of $90.60 million for the quarter, compared to the consensus estimate of $92.61 million. During the same quarter last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts anticipate that Zoe’s Kitchen, Inc. will post ($0.05) earnings per share for the current fiscal year.
Several equities analysts have recently commented on the stock. Deutsche Bank AG reaffirmed a “hold” rating and set a $13.00 price objective (down from $15.00) on shares of Zoe’s Kitchen in a research note on Monday, July 10th. ValuEngine downgraded shares of Zoe’s Kitchen from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price objective (down from $26.00) on shares of Zoe’s Kitchen in a research note on Tuesday, May 30th. Cowen and Company reduced their price target on shares of Zoe’s Kitchen from $19.00 to $14.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reduced their price target on shares of Zoe’s Kitchen from $24.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, May 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.33.
Zoe’s Kitchen Company Profile
Zoe’s Kitchen, Inc develops and operates fast-casual restaurants serving a menu of fresh, wholesome, Mediterranean-inspired dishes delivered with Southern hospitality. The Company’s menu offers meals made from scratch using produce, proteins and other ingredients, including its appetizers, soups, salads and kabobs.
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