Schwab Charles Investment Management Inc. boosted its stake in shares of GrubHub Inc (NYSE:GRUB) by 37.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 526,343 shares of the information services provider’s stock after purchasing an additional 143,583 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.61% of GrubHub worth $27,718,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GRUB. Lord Abbett & CO. LLC bought a new stake in shares of GrubHub in the second quarter valued at approximately $19,789,000. Bank of New York Mellon Corp boosted its position in shares of GrubHub by 11.7% in the second quarter. Bank of New York Mellon Corp now owns 736,610 shares of the information services provider’s stock valued at $32,116,000 after acquiring an additional 77,237 shares during the period. Geneva Advisors LLC acquired a new position in shares of GrubHub in the second quarter valued at $622,000. Delta Lloyd Asset Management N.V. acquired a new position in shares of GrubHub in the second quarter valued at $2,126,000. Finally, Principal Financial Group Inc. raised its stake in shares of GrubHub by 51.3% in the second quarter. Principal Financial Group Inc. now owns 17,348 shares of the information services provider’s stock valued at $756,000 after purchasing an additional 5,880 shares in the last quarter.
In other news, SVP Margo Drucker sold 1,621 shares of GrubHub stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $67.24, for a total transaction of $108,996.04. Following the transaction, the senior vice president now owns 892 shares in the company, valued at approximately $59,978.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $51.13, for a total value of $255,650.00. Following the transaction, the chief financial officer now owns 20,114 shares in the company, valued at approximately $1,028,428.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,383 shares of company stock worth $19,612,812. Company insiders own 2.37% of the company’s stock.
GrubHub (NYSE:GRUB) last issued its earnings results on Wednesday, October 25th. The information services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. GrubHub had a return on equity of 7.45% and a net margin of 9.60%. The firm had revenue of $163.10 million for the quarter, compared to analysts’ expectations of $159.63 million. During the same quarter last year, the business earned $0.23 earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. equities analysts expect that GrubHub Inc will post 0.89 earnings per share for the current fiscal year.
A number of brokerages recently commented on GRUB. KeyCorp set a $80.00 target price on GrubHub and gave the company a “buy” rating in a research note on Monday. Cowen restated an “outperform” rating and issued a $78.00 target price (up from $65.00) on shares of GrubHub in a research note on Friday, December 1st. Craig Hallum restated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of GrubHub in a research note on Tuesday, November 21st. Zacks Investment Research lowered GrubHub from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, DA Davidson reiterated a “hold” rating and set a $50.00 price objective (up from $48.00) on shares of GrubHub in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. GrubHub has an average rating of “Buy” and a consensus price target of $59.96.
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GrubHub Company Profile
Grubhub Inc provides an online and mobile platform for restaurant pick-up and delivery orders. Its products include Grubhub and Seamless Mobile Applications and Mobile Website, Grubhub and Seamless Websites, Corporate Program, Delivery, Allmenus and MenuPages, Grubhub for Restaurants, and Restaurant Websites.
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