Del Frisco’s Restaurant Group, Inc. (DFRG) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) by 30.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 155,804 shares of the restaurant operator’s stock after purchasing an additional 35,997 shares during the quarter. Bank of New York Mellon Corp owned about 0.74% of Del Frisco’s Restaurant Group worth $2,509,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. FMR LLC boosted its stake in Del Frisco’s Restaurant Group by 2.0% in the first quarter. FMR LLC now owns 2,338,515 shares of the restaurant operator’s stock worth $42,210,000 after purchasing an additional 46,065 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Del Frisco’s Restaurant Group by 15.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,395,582 shares of the restaurant operator’s stock worth $25,190,000 after purchasing an additional 190,478 shares in the last quarter. Wellington Management Group LLP boosted its stake in Del Frisco’s Restaurant Group by 17.1% in the first quarter. Wellington Management Group LLP now owns 1,068,102 shares of the restaurant operator’s stock worth $19,279,000 after purchasing an additional 155,999 shares in the last quarter. Vanguard Group Inc. boosted its stake in Del Frisco’s Restaurant Group by 6.1% in the first quarter. Vanguard Group Inc. now owns 957,474 shares of the restaurant operator’s stock worth $17,282,000 after purchasing an additional 54,626 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Del Frisco’s Restaurant Group by 0.5% in the second quarter. Wedge Capital Management L L P NC now owns 829,121 shares of the restaurant operator’s stock worth $13,349,000 after purchasing an additional 4,288 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.

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A number of research firms have commented on DFRG. BidaskClub raised Del Frisco’s Restaurant Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Del Frisco’s Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $20.00 price objective on shares of Del Frisco’s Restaurant Group in a research note on Monday, July 24th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $16.00 price objective on shares of Del Frisco’s Restaurant Group in a research note on Sunday, October 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $18.10.

Shares of Del Frisco’s Restaurant Group, Inc. (NASDAQ:DFRG) opened at 14.45 on Friday. The company has a market cap of $305.29 million, a P/E ratio of 24.83 and a beta of 0.78. The stock’s 50 day moving average price is $14.23 and its 200-day moving average price is $15.85. Del Frisco’s Restaurant Group, Inc. has a 52-week low of $13.21 and a 52-week high of $18.80.

Del Frisco’s Restaurant Group (NASDAQ:DFRG) last released its quarterly earnings data on Friday, July 21st. The restaurant operator reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.02). Del Frisco’s Restaurant Group had a net margin of 3.73% and a return on equity of 7.39%. The firm had revenue of $82.30 million for the quarter, compared to analyst estimates of $81.92 million. During the same period last year, the business earned $0.19 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Del Frisco’s Restaurant Group, Inc. will post $0.76 EPS for the current year.

In other news, CFO Neil H. Thomson acquired 4,000 shares of the business’s stock in a transaction that occurred on Sunday, July 30th. The shares were bought at an average price of $14.25 per share, with a total value of $57,000.00. Following the acquisition, the chief financial officer now directly owns 34,224 shares in the company, valued at approximately $487,692. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Norman J. Abdallah acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were purchased at an average cost of $14.11 per share, for a total transaction of $211,650.00. Following the acquisition, the chief executive officer now owns 52,712 shares in the company, valued at $743,766.32. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 57,394 shares of company stock worth $809,299. 2.40% of the stock is currently owned by company insiders.

About Del Frisco’s Restaurant Group

Del Frisco’s Restaurant Group, Inc develops, owns and operates three contemporary, complementary restaurants: Del Frisco’s Double Eagle Steak House (Del Frisco’s), Sullivan’s Steakhouse (Sullivan’s) and Del Frisco’s Grille (the Grille). As of December 27, 2016, the Company operated 53 restaurants in 24 states and the District of Columbia in the United States.

Institutional Ownership by Quarter for Del Frisco`s Restaurant Group (NASDAQ:DFRG)

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