Tributary Capital Management LLC Acquires 5,367 Shares of Bojangles Inc (BOJA)

Tributary Capital Management LLC boosted its holdings in Bojangles Inc (NASDAQ:BOJA) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 916,045 shares of the restaurant operator’s stock after acquiring an additional 5,367 shares during the period. Tributary Capital Management LLC’s holdings in Bojangles were worth $14,382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Eidelman Virant Capital bought a new position in Bojangles in the third quarter worth about $1,256,000. Bank of New York Mellon Corp lifted its holdings in Bojangles by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 117,606 shares of the restaurant operator’s stock worth $1,693,000 after acquiring an additional 7,465 shares during the last quarter. California Public Employees Retirement System bought a new position in Bojangles in the second quarter worth about $173,000. Millennium Management LLC lifted its holdings in Bojangles by 30.1% in the second quarter. Millennium Management LLC now owns 382,266 shares of the restaurant operator’s stock worth $5,505,000 after acquiring an additional 88,343 shares during the last quarter. Finally, Alambic Investment Management L.P. lifted its holdings in Bojangles by 24.7% in the second quarter. Alambic Investment Management L.P. now owns 31,682 shares of the restaurant operator’s stock worth $456,000 after acquiring an additional 6,282 shares during the last quarter. 90.90% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on BOJA shares. BidaskClub raised Bojangles from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. TheStreet cut Bojangles from a “b-” rating to a “c+” rating in a report on Monday, July 30th. Zacks Investment Research cut Bojangles from a “buy” rating to a “hold” rating in a report on Monday, August 6th. ValuEngine raised Bojangles from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Finally, KeyCorp started coverage on Bojangles in a report on Wednesday, October 3rd. They set a “sector weight” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.86.

BOJA opened at $16.27 on Friday. The company has a market cap of $601.48 million, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.42. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.44. Bojangles Inc has a twelve month low of $11.35 and a twelve month high of $17.10.

Bojangles (NASDAQ:BOJA) last released its quarterly earnings results on Thursday, August 2nd. The restaurant operator reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.05). Bojangles had a net margin of 11.24% and a return on equity of 9.91%. The business had revenue of $140.50 million for the quarter, compared to the consensus estimate of $140.34 million. During the same period last year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts anticipate that Bojangles Inc will post 0.68 earnings per share for the current year.

Bojangles Company Profile

Bojangles', Inc develops, operates, and franchises limited service restaurants in the United States. Its restaurants offer made-from-scratch biscuit breakfast sandwiches, hand-breaded bone-in chicken, fixin's, and iced tea. As of July 1, 2018, the company operated 766 system-wide restaurants, including 325 company-operated and 441 franchised restaurants primarily located in the Southeastern United States.

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Institutional Ownership by Quarter for Bojangles (NASDAQ:BOJA)

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