Del Taco Restaurants, Inc. (NASDAQ:TACO) Announces $0.04 Quarterly Dividend

Del Taco Restaurants, Inc. (NASDAQ:TACO) announced a quarterly dividend on Thursday, January 13th, Wall Street Journal reports. Investors of record on Tuesday, February 1st will be paid a dividend of 0.04 per share by the restaurant operator on Tuesday, February 22nd. This represents a $0.16 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, January 31st.

Del Taco Restaurants has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Del Taco Restaurants to earn $0.55 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 29.1%.

Shares of NASDAQ TACO opened at $12.48 on Friday. The company has a market cap of $454.17 million, a price-to-earnings ratio of 23.55 and a beta of 2.13. Del Taco Restaurants has a 12-month low of $7.34 and a 12-month high of $12.56. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $9.58.

Del Taco Restaurants (NASDAQ:TACO) last announced its quarterly earnings results on Thursday, October 14th. The restaurant operator reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $124.27 million for the quarter, compared to the consensus estimate of $124.86 million. Del Taco Restaurants had a return on equity of 9.43% and a net margin of 3.83%. During the same quarter last year, the business posted $0.16 EPS. As a group, equities analysts forecast that Del Taco Restaurants will post 0.47 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Del Taco Restaurants by 146.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,426 shares of the restaurant operator’s stock valued at $82,000 after purchasing an additional 5,601 shares during the period. Invesco Ltd. increased its position in shares of Del Taco Restaurants by 6.6% during the 3rd quarter. Invesco Ltd. now owns 81,462 shares of the restaurant operator’s stock valued at $711,000 after purchasing an additional 5,052 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Del Taco Restaurants by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 176,945 shares of the restaurant operator’s stock valued at $1,545,000 after purchasing an additional 3,594 shares during the period. Institutional investors own 87.79% of the company’s stock.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, December 15th. Jefferies Financial Group downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating and cut their target price for the company from $14.00 to $12.51 in a research note on Tuesday, December 7th. Benchmark downgraded Del Taco Restaurants from a “buy” rating to a “hold” rating in a research note on Tuesday, December 7th. Finally, Wedbush reaffirmed a “buy” rating and set a $15.00 target price on shares of Del Taco Restaurants in a research note on Friday, October 15th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.50.

Del Taco Restaurants Company Profile

Del Taco Restaurants, Inc engages in developing, franchising, owning, and operating dining place. It features made-to-order cuisine both Mexican inspired and American classic dishes. Its menu includes tacos and burritos, Double Del cheeseburgers, crinkle-cut fries, and milkshakes. The company was founded by Ed Hackbarth and David Jameson in 1964 and is headquartered in Lake Forest, CA.

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Dividend History for Del Taco Restaurants (NASDAQ:TACO)

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