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TAST Carrols Restaurant

Carrols Restaurant Group, Inc. owns and operates restaurants under the Burger King brand. It serves flame-broiled whopper sandwich, hamburgers, chicken and other specialty sandwiches, fries, salads, breakfast items, smoothies, frappes and other snacks. The company was founded in 1960 and is headquartered in Syracuse, NY.

Company profile

Ticker
TAST
Exchange
CEO
Daniel T. Accordino
Employees
Location
Fiscal year end
Industry (SIC)
Former names
CARROLS HOLDINGS CORP
SEC CIK
IRS number
161287774

TAST stock data

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Calendar

11 Mar 21
17 Apr 21
31 Dec 21
Quarter (USD)
Jan 21 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 Mar 21 Carl S Hauch Common Stock, $0.01 par value Grant Aquire A No No 0 250,000 0 250,000
8 Mar 21 Matthew Terker Perelman Common Stock, par value $0.01 per share Buy Aquire P No No 6.5965 75,000 494.74K 181,324
1 Mar 21 Daniel T Accordino Common Stock, $0.01 par value Grant Aquire A No No 0 46,386 0 1,879,718
1 Mar 21 Anthony E Hull Common Stock, $0.01 par value Grant Aquire A No No 0 29,157 0 356,657
1 Mar 21 Richard G Cross Common Stock, $0.01 par value Grant Aquire A No No 0 6,935 0 210,997

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

45.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 95 91 +4.4%
Opened positions 19 17 +11.8%
Closed positions 15 12 +25.0%
Increased positions 32 20 +60.0%
Reduced positions 27 34 -20.6%
13F shares
Current Prev Q Change
Total value 232.8M 220.93M +5.4%
Total shares 24.44M 25.46M -4.0%
Total puts 32.8K 31.5K +4.1%
Total calls 11.9K 97.9K -87.8%
Total put/call ratio 2.8 0.3 +756.6%
Largest owners
Shares Value Change
Russell Investments 4.17M $26.17M -8.5%
BLK Blackrock 2.53M $15.88M +0.4%
Dimensional Fund Advisors 2.51M $15.75M +0.3%
Royce & Associates 2.1M $13.17M -7.2%
Vanguard 1.97M $12.37M -1.9%
AMP Ameriprise Financial 1.29M $8.09M +4.5%
First Manhattan 1.03M $6.44M -2.9%
STT State Street 660.74K $4.15M +0.5%
Nuveen Asset Management 568.66K $3.57M -11.6%
NTRS Northern Trust 554.74K $3.48M +33.3%
Largest transactions
Shares Bought/sold Change
Portolan Capital Management 0 -1.81M EXIT
MS Morgan Stanley 465.22K +438.96K +1671.7%
Russell Investments 4.17M -386.78K -8.5%
Assenagon Asset Management 228.74K +228.74K NEW
Granite Point Capital Management 0 -200K EXIT
Citadel Advisors 298.56K +192.28K +180.9%
Royce & Associates 2.1M -161.79K -7.2%
Arrowstreet Capital, Limited Partnership 462.46K -148.96K -24.4%
Norges Bank 139.8K +139.8K NEW
NTRS Northern Trust 554.74K +138.74K +33.3%

Financial report summary

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Risks
  • We could be materially adversely affected by health concerns such as the current COVID-19 pandemic.
  • Intense competition in the restaurant industry could make it more difficult to profitably expand our business and could also have a negative impact on our operating results if customers favor our competitors or we are forced to change our pricing and other marketing strategies.
  • Factors applicable to the quick-service restaurant segment may have a material adverse effect on our results of operations, which may cause a decrease in earnings and revenues.
  • We are highly dependent on the Burger King and Popeyes systems and our ability to renew our franchise agreements with BKC and PLK. The failure to renew our franchise agreements or Burger King's or Popeyes' failure to compete effectively would materially adversely affect our results of operations.
  • Our strategy includes pursuing acquisitions of additional Burger King and Popeyes restaurants and we may not find Burger King restaurants or Popeyes restaurants that are suitable acquisition candidates or successfully operate or integrate any Burger King restaurants or Popeyes restaurants that we may acquire.
  • We may experience difficulties in integrating restaurants acquired by us into our existing business.
  • We may incur significant liability or reputational harm if claims are brought against us or the Burger King and Popeyes brands.
  • Changes in consumer taste could negatively impact our business.
  • We could be adversely affected by our failure to acknowledge and sufficiently respond to the fast-moving influence of social media.
  • If a significant disruption in service or supply by any of our suppliers or distributors were to occur, it could create disruptions in the operations of our restaurants, which could have a material adverse effect on our results of operations and financial condition.
  • If labor costs increase, we may not be able to make a corresponding increase in our prices and our results of operations and financial condition may be materially adversely affected.
  • Higher labor costs due to statutory and regulatory changes could have a material adverse effect on our results of operations and financial condition.
  • Increases in income tax rates or changes in income tax laws could adversely affect our results of operations and financial condition.
  • The efficiency and quality of our competitors’ advertising and promotional programs and the extent and cost of our advertising could have a material adverse effect on our results of operations and financial condition.
  • Our business is regional and we therefore face risks related to reliance on certain markets as well as risks for other unforeseen events.
  • We could be materially adversely affected by external events such as extreme weather, natural disasters, terrorist actions, pandemics and civil unrest, among others.
  • We cannot assure you that the current locations of our restaurants will continue to be economically viable or that additional locations can be acquired at reasonable costs.
  • Economic downturns may adversely impact consumer spending patterns.
  • The loss of the services of our senior management could have a material adverse effect on our results of operations and financial condition.
  • Government regulation could adversely affect our results of operations and financial condition.
  • Federal, state and local environmental regulations relating to the use, storage, discharge, emission and disposal of hazardous materials could expose us to liabilities which could have a material adverse effect on our results of operations and financial condition.
  • We are subject to all of the risks associated with leasing property subject to long-term, non-cancelable leases.
  • An increase in food costs could have a material adverse effect on our results of operations and financial condition.
  • Security breaches of confidential credit card, consumer, employee and other material information as well as other threats to our technical systems may have a material adverse effect on our results of operations and financial condition.
  • The Company’s results of operations, financial condition and reputation may be impacted by information technology system failures or network disruptions.
  • Carrols is currently a guarantor under 18 Fiesta Restaurant Group, Inc. ("Fiesta") restaurant property leases and any default under such property leases by Fiesta may result in substantial liabilities to us.
  • The market price of our common stock may be highly volatile or may decline regardless of our operating performance.
  • The concentrated ownership of our capital stock by insiders may limit our stockholders' ability to influence corporate matters.
  • We currently do not expect to pay any cash dividends for the foreseeable future, and our Senior Credit Facilities limit our ability to pay dividends to our stockholders.
  • If securities analysts do not publish research or reports about our business or if they downgrade our stock, the price of our stock could decline.
  • Provisions in our restated certificate of incorporation and amended and restated bylaws, as amended, or Delaware law might discourage, delay or prevent a change of control of our company or changes in our management and, therefore, depress the trading price of our common stock.
  • Our substantial indebtedness could have a material adverse effect on our financial condition.
  • Despite current indebtedness levels and restrictive covenants, we may still be able to incur more debt or make certain restricted payments, which could further exacerbate the risks described above.
  • Our Senior Credit Facilities restrict our ability to engage in some business and financial transactions and contain certain other restrictive terms.
  • We may not have the funds necessary to satisfy all of our obligations under our Senior Credit Facilities or other indebtedness in connection with certain change of control events.
Management Discussion
  • ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Our fiscal years consist of 52 or 53 weeks ending on the Sunday closest to December 31. The fiscal year ended January 3, 2021 contained 53 weeks and the fiscal year ended December 29, 2019 contained 52 weeks.
  • Company Overview—a general description of our business and our key financial measures.
Content analysis
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