Ellington Management Group LLC Lowers Stake in Zoe's Kitchen Inc (NYSE:ZOES)

Ellington Management Group LLC lessened its position in shares of Zoe's Kitchen Inc (NYSE:ZOES) by 15.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,600 shares of the restaurant operator’s stock after selling 5,300 shares during the period. Ellington Management Group LLC owned 0.15% of Zoe's Kitchen worth $478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Voya Investment Management LLC bought a new stake in Zoe's Kitchen in the second quarter valued at $127,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Zoe's Kitchen by 53.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,400 shares of the restaurant operator’s stock valued at $195,000 after purchasing an additional 5,350 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Zoe's Kitchen by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 16,430 shares of the restaurant operator’s stock valued at $196,000 after purchasing an additional 1,118 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Zoe's Kitchen by 95.6% in the third quarter. Cubist Systematic Strategies LLC now owns 20,877 shares of the restaurant operator’s stock valued at $264,000 after purchasing an additional 10,202 shares in the last quarter. Finally, Sicart Associates LLC bought a new stake in Zoe's Kitchen in the fourth quarter valued at $276,000. 97.09% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Zoe's Kitchen from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Jefferies Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Zoe's Kitchen in a research note on Friday, December 22nd. Zacks Investment Research cut shares of Zoe's Kitchen from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Finally, Telsey Advisory Group cut shares of Zoe's Kitchen from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.93.

Zoe's Kitchen stock opened at $14.64 on Friday. Zoe's Kitchen Inc has a fifty-two week low of $10.77 and a fifty-two week high of $18.77. The stock has a market cap of $286.18, a P/E ratio of -146.40 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.41 and a current ratio of 0.51.

Zoe's Kitchen (NYSE:ZOES) last released its quarterly earnings results on Thursday, February 22nd. The restaurant operator reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Zoe's Kitchen had a negative net margin of 0.63% and a negative return on equity of 1.46%. The business had revenue of $71.38 million for the quarter, compared to analysts’ expectations of $71.64 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. research analysts anticipate that Zoe's Kitchen Inc will post -0.13 earnings per share for the current year.

In other news, major shareholder Misada Capital Flagship Fund L purchased 360,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $15.06 per share, for a total transaction of $5,421,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

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Zoe's Kitchen 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.

Institutional Ownership by Quarter for Zoe's Kitchen (NYSE:ZOES)

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