Peregrine Capital Management LLC Sells 3,543 Shares of Zoe’s Kitchen, Inc. (NYSE:ZOES)

Peregrine Capital Management LLC cut its position in Zoe’s Kitchen, Inc. (NYSE:ZOES) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 817,573 shares of the restaurant operator’s stock after selling 3,543 shares during the period. Peregrine Capital Management LLC owned 4.20% of Zoe’s Kitchen worth $9,737,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in Zoe’s Kitchen during the fourth quarter worth $1,282,000. State Street Corp boosted its stake in Zoe’s Kitchen by 3.8% in the fourth quarter. State Street Corp now owns 328,309 shares of the restaurant operator’s stock worth $7,879,000 after buying an additional 12,020 shares during the period. Norges Bank acquired a new stake in Zoe’s Kitchen during the fourth quarter worth $936,000. Deane Retirement Strategies Inc. boosted its stake in Zoe’s Kitchen by 5.9% in the first quarter. Deane Retirement Strategies Inc. now owns 96,580 shares of the restaurant operator’s stock worth $1,785,000 after buying an additional 5,340 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Zoe’s Kitchen during the first quarter worth $188,000.

Shares of Zoe’s Kitchen, Inc. (ZOES) traded down 5.50% during midday trading on Friday, hitting $12.55. 2,614,547 shares of the company’s stock were exchanged. Zoe’s Kitchen, Inc. has a 52 week low of $10.77 and a 52 week high of $37.70. The company has a 50-day moving average of $11.58 and a 200-day moving average of $16.00. The firm has a market cap of $244.57 million, a price-to-earnings ratio of 597.62 and a beta of 0.37.

Zoe’s Kitchen (NYSE:ZOES) last issued its quarterly earnings data on Thursday, August 17th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. Zoe’s Kitchen had a net margin of 0.15% and a return on equity of 0.62%. The company had revenue of $74.30 million during the quarter, compared to the consensus estimate of $75.11 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Zoe’s Kitchen, Inc. will post ($0.06) EPS for the current fiscal year.

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A number of research analysts recently commented on the stock. Robert W. Baird lowered their price objective on shares of Zoe’s Kitchen from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday. Zacks Investment Research lowered shares of Zoe’s Kitchen from a “hold” rating to a “sell” rating in a research report on Thursday, May 25th. ValuEngine lowered shares of Zoe’s Kitchen from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Cowen and Company decreased 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, Deutsche Bank AG restated a “hold” rating and issued a $15.00 price target (down previously from $21.00) on shares of Zoe’s Kitchen in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.15.

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.

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

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