Concourse Capital Management Lowers stake in Zoe's Kitchen Inc (ZOES)

Zoe's Kitchen Inc (ZOES) : Concourse Capital Management reduced its stake in Zoe's Kitchen Inc by 9.41% during the most recent quarter end. The investment management company now holds a total of 197,655 shares of Zoe's Kitchen Inc which is valued at $7.3 Million after selling 20,529 shares in Zoe's Kitchen Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Zoe's Kitchen Inc makes up approximately 4.72% of Concourse Capital Management’s portfolio.

Other Hedge Funds, Including , Columbia Wanger Asset Management added ZOES to its portfolio by purchasing 294,262 company shares during the most recent quarter which is valued at $10.9 Million. Zoe's Kitchen Inc makes up approx 0.12% of Columbia Wanger Asset Management’s portfolio. State Board Of Administration Of Florida Retirement System added ZOES to its portfolio by purchasing 5,623 company shares during the most recent quarter which is valued at $213,505.Gilder Gagnon Howe Co reduced its stake in ZOES by selling 91,535 shares or 94.72% in the most recent quarter. The Hedge Fund company now holds 5,102 shares of ZOES which is valued at $193,723.Rhumbline Advisers boosted its stake in ZOES in the latest quarter, The investment management firm added 415 additional shares and now holds a total of 18,747 shares of Zoe's Kitchen Inc which is valued at $711,824.

Zoe's Kitchen Inc closed down -0.02 points or -0.06% at $35.99 with 2,67,508 shares getting traded on Friday. Post opening the session at $36.14, the shares hit an intraday low of $35.3 and an intraday high of $36.26 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Zoe's Kitchen Inc reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $-0.06. The company had revenue of $52.70 million for the quarter, compared to analysts expectations of $50.65 million. The company’s revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Zoe’s Kitchen Inc. (Zoes) primarily develops and operates fast-casual restaurants serving a range of Mediterranean dishes. As of December 29 2014 the Company had 129 Company-owned restaurants and three franchise restaurants in 15 states across the United States. The Company’s menu offers meals made generally from scratch using produce proteins and other ingredients that are preservative- and additive-free including its appetizers soups salads and kabobs. Its restaurant size averages approximately 2750 square feet. The Company’s food including both hot and cold items is used for catering in a range of business and social occasions. The Company offers social catering solutions designed for its customers’ life events including Zoes Party Packs which are bundled catering packages for birthday parties baby and bridal showers sporting and outdoor events girls night out and family gatherings.

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