Zoe’s Kitchen Inc (NYSE:ZOES) was the recipient of some unusual options trading on Thursday. Stock investors bought 2,938 call options on the company. This represents an increase of approximately 964% compared to the average volume of 276 call options.
Hedge funds have recently added to or reduced their stakes in the stock. OLD National Bancorp IN acquired a new stake in Zoe’s Kitchen during the 2nd quarter valued at $207,000. Wrapmanager Inc. bought a new position in Zoe’s Kitchen in the 2nd quarter valued at $195,000. Spark Investment Management LLC bought a new position in Zoe’s Kitchen in the 2nd quarter valued at $1,142,000. Granite Investment Partners LLC bought a new position in Zoe’s Kitchen in the 2nd quarter valued at $440,000. Finally, Renaissance Technologies LLC boosted its position in Zoe’s Kitchen by 350.2% in the 4th quarter. Renaissance Technologies LLC now owns 285,400 shares of the restaurant operator’s stock valued at $4,772,000 after buying an additional 222,000 shares during the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.
Shares of ZOES traded down $0.12 during mid-day trading on Friday, reaching $13.34. The company had a trading volume of 179,678 shares, compared to its average volume of 1,278,422. Zoe’s Kitchen has a twelve month low of $8.22 and a twelve month high of $17.65. The stock has a market cap of $263.87 million, a PE ratio of -133.40 and a beta of 0.38. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.17.
Several analysts have recently issued reports on ZOES shares. William Blair upgraded Zoe’s Kitchen from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 1st. ValuEngine downgraded Zoe’s Kitchen from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Jefferies Financial Group downgraded Zoe’s Kitchen from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Maxim Group downgraded Zoe’s Kitchen from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.00 to $12.00 in a research note on Friday, May 25th. Finally, Telsey Advisory Group cut their price target on Zoe’s Kitchen from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, June 12th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.46.
Zoe’s Kitchen Company Profile
Zoe’s Kitchen, Inc, through its subsidiaries, develops and operates a chain of fast-casual restaurants. It operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. As of February 22, 2018, the company operated owned and franchised 249 restaurants in 20 states of the United States.
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