KBC Group NV decreased its position in shares of Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) by 22.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,768 shares of the restaurant operator’s stock after selling 7,918 shares during the period. KBC Group NV owned approximately 0.22% of Red Robin Gourmet Burgers worth $1,812,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Red Robin Gourmet Burgers by 43,842.6% in the first quarter. BlackRock Inc. now owns 1,561,279 shares of the restaurant operator’s stock valued at $91,256,000 after buying an additional 1,557,726 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Red Robin Gourmet Burgers by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,084,203 shares of the restaurant operator’s stock valued at $63,371,000 after buying an additional 246,178 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Red Robin Gourmet Burgers by 772.5% in the first quarter. Ameriprise Financial Inc. now owns 770,351 shares of the restaurant operator’s stock valued at $45,027,000 after buying an additional 682,062 shares during the period. Vanguard Group Inc. increased its stake in shares of Red Robin Gourmet Burgers by 4.9% in the first quarter. Vanguard Group Inc. now owns 668,118 shares of the restaurant operator’s stock valued at $39,052,000 after buying an additional 30,946 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Red Robin Gourmet Burgers by 2.0% in the first quarter. Alliancebernstein L.P. now owns 525,590 shares of the restaurant operator’s stock valued at $30,721,000 after buying an additional 10,250 shares during the period.

Red Robin Gourmet Burgers, Inc. (RRGB) opened at 57.35 on Wednesday. The firm has a market capitalization of $741.36 million, a P/E ratio of 88.91 and a beta of 0.62. Red Robin Gourmet Burgers, Inc. has a 1-year low of $40.85 and a 1-year high of $74.11. The stock has a 50 day moving average of $60.60 and a 200-day moving average of $59.31.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its earnings results on Tuesday, August 8th. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. The business had revenue of $315.80 million for the quarter, compared to analyst estimates of $315.69 million. Red Robin Gourmet Burgers had a net margin of 0.64% and a return on equity of 8.00%. Red Robin Gourmet Burgers’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts anticipate that Red Robin Gourmet Burgers, Inc. will post $2.75 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/30/kbc-group-nv-sells-7918-shares-of-red-robin-gourmet-burgers-inc-rrgb.html.

RRGB has been the topic of several recent analyst reports. TheStreet raised shares of Red Robin Gourmet Burgers from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. Bank of America Corporation boosted their target price on shares of Red Robin Gourmet Burgers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Maxim Group reissued a “buy” rating and set a $80.00 target price (up from $75.00) on shares of Red Robin Gourmet Burgers in a research note on Wednesday, May 17th. Zacks Investment Research raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Friday, May 19th. Finally, Canaccord Genuity raised shares of Red Robin Gourmet Burgers from a “hold” rating to a “buy” rating and boosted their target price for the company from $72.00 to $90.00 in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Red Robin Gourmet Burgers has an average rating of “Hold” and a consensus target price of $72.80.

In other Red Robin Gourmet Burgers news, CFO Guy J. Constant acquired 2,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $58.88 per share, with a total value of $147,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.66% of the stock is currently owned by company insiders.

About Red Robin Gourmet Burgers

Red Robin Gourmet Burgers, Inc, together with its subsidiaries, primarily develops, operates, and franchises full-service restaurants in North America and focuses on serving selection of gourmet burgers. The Company’s menu features a line of gourmet burgers, which it makes from ground beef, as well as its line of Red’s Tavern Double Burgers and its Red Robin’s line of half-pound Angus beef burgers with various toppings.

Want to see what other hedge funds are holding RRGB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB).

Institutional Ownership by Quarter for Red Robin Gourmet Burgers (NASDAQ:RRGB)

Receive News & Stock Ratings for Red Robin Gourmet Burgers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Robin Gourmet Burgers Inc. and related stocks with our FREE daily email newsletter.