Tocqueville Asset Management L.P. Purchases New Position in Zoe’s Kitchen, Inc. (ZOES)
Tocqueville Asset Management L.P. purchased a new stake in Zoe’s Kitchen, Inc. (NYSE:ZOES) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 162,050 shares of the restaurant operator’s stock, valued at approximately $1,930,000. Tocqueville Asset Management L.P. owned 0.83% of Zoe’s Kitchen as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP boosted its position in shares of Zoe’s Kitchen by 1,002.6% in the first quarter. Quantbot Technologies LP now owns 7,950 shares of the restaurant operator’s stock valued at $147,000 after buying an additional 7,229 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Zoe’s Kitchen during the first quarter valued at approximately $188,000. American International Group Inc. boosted its position in shares of Zoe’s Kitchen by 7.1% in the first quarter. American International Group Inc. now owns 11,765 shares of the restaurant operator’s stock valued at $218,000 after buying an additional 781 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Zoe’s Kitchen by 44.4% in the first quarter. IFP Advisors Inc now owns 13,000 shares of the restaurant operator’s stock valued at $240,000 after buying an additional 4,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Zoe’s Kitchen by 0.7% in the second quarter. Rhumbline Advisers now owns 21,143 shares of the restaurant operator’s stock valued at $252,000 after buying an additional 155 shares during the last quarter.
Zoe’s Kitchen, Inc. (ZOES) opened at 13.34 on Friday. The firm has a 50-day moving average of $11.78 and a 200-day moving average of $15.69. Zoe’s Kitchen, Inc. has a one year low of $10.77 and a one year high of $28.69. The company’s market cap is $260.60 million.
Zoe’s Kitchen (NYSE:ZOES) last posted its quarterly earnings results on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Zoe’s Kitchen had a negative net margin of 0.07% and a negative return on equity of 0.27%. The company had revenue of $74.30 million for the quarter, compared to the consensus estimate of $75.11 million. During the same period last year, the company posted $0.06 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that Zoe’s Kitchen, Inc. will post ($0.08) EPS for the current year.
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Several equities analysts have recently commented on ZOES shares. Maxim Group reaffirmed a “buy” rating and set a $28.00 price target on shares of Zoe’s Kitchen in a research report on Tuesday, May 23rd. Deutsche Bank AG reissued a “hold” rating and issued a $13.00 target price (down previously from $15.00) on shares of Zoe’s Kitchen in a report on Monday, July 10th. Jefferies Group LLC cut their target price on shares of Zoe’s Kitchen from $24.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, May 30th. Zacks Investment Research raised shares of Zoe’s Kitchen from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 target price (down previously from $26.00) on shares of Zoe’s Kitchen in a report on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.35.
In related news, Director A Alexander Taylor II purchased 3,100 shares of Zoe’s Kitchen stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $12.87 per share, for a total transaction of $39,897.00. Following the purchase, the director now owns 7,508 shares in the company, valued at approximately $96,627.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.
About Zoe’s Kitchen
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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