Russell Investments Group Ltd. Buys New Stake in Fogo de Chao, Inc. (FOGO)
Russell Investments Group Ltd. bought a new stake in Fogo de Chao, Inc. (NASDAQ:FOGO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 66,179 shares of the restaurant operator’s stock, valued at approximately $920,000. Russell Investments Group Ltd. owned approximately 0.23% of Fogo de Chao at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thomson Horstmann & Bryant Inc. grew its position in Fogo de Chao by 438.6% in the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 520,499 shares of the restaurant operator’s stock valued at $7,234,000 after acquiring an additional 423,859 shares in the last quarter. River & Mercantile Asset Management LLP grew its position in Fogo de Chao by 7.9% in the 1st quarter. River & Mercantile Asset Management LLP now owns 202,140 shares of the restaurant operator’s stock valued at $3,280,000 after acquiring an additional 14,800 shares in the last quarter. Oxford Asset Management acquired a new position in Fogo de Chao in the 1st quarter valued at about $553,000. Finally, Bank of New York Mellon Corp grew its position in Fogo de Chao by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 51,005 shares of the restaurant operator’s stock valued at $829,000 after acquiring an additional 2,537 shares in the last quarter. 85.65% of the stock is owned by institutional investors.
Shares of Fogo de Chao, Inc. (NASDAQ:FOGO) traded down 0.40% during trading on Thursday, hitting $12.55. The stock had a trading volume of 13,412 shares. The stock’s 50-day moving average price is $12.50 and its 200-day moving average price is $13.54. The company has a market cap of $354.35 million, a P/E ratio of 15.89 and a beta of 0.38. Fogo de Chao, Inc. has a one year low of $10.50 and a one year high of $14.95.
Fogo de Chao (NASDAQ:FOGO) last released its quarterly earnings data on Tuesday, August 8th. The restaurant operator reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $77.80 million during the quarter, compared to analysts’ expectations of $77.46 million. Fogo de Chao had a return on equity of 8.08% and a net margin of 7.40%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Fogo de Chao, Inc. will post $0.91 EPS for the current fiscal year.
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Several equities analysts have weighed in on FOGO shares. Zacks Investment Research downgraded Fogo de Chao from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. BidaskClub downgraded Fogo de Chao from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $16.00 target price on shares of Fogo de Chao in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.36.
Fogo de Chao Profile
Fogo de Chao, Inc is a United States-based holding company. The Company, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company owns 100% of Brasa (Purchaser) Inc (Brasa Purchaser), which owns 100% of Brasa (Holdings) Inc (Brasa Holdings).
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