RCI Hospitality Holdings Inc (NASDAQ:RICK) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK) by 0.5% in the 4th quarter, HoldingsChannel reports. The firm owned 68,070 shares of the restaurant operator’s stock after acquiring an additional 363 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in RCI Hospitality were worth $3,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in RCI Hospitality by 29.4% during the 4th quarter. Bank of New York Mellon Corp now owns 65,654 shares of the restaurant operator’s stock worth $3,773,000 after purchasing an additional 14,919 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of RCI Hospitality in the fourth quarter worth about $53,000. Brighton Jones LLC acquired a new stake in RCI Hospitality during the fourth quarter worth about $211,000. Barclays PLC raised its position in RCI Hospitality by 330.2% during the third quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock valued at $605,000 after acquiring an additional 10,433 shares in the last quarter. Finally, State Street Corp lifted its holdings in RCI Hospitality by 1.0% in the third quarter. State Street Corp now owns 196,913 shares of the restaurant operator’s stock valued at $8,772,000 after acquiring an additional 2,023 shares during the period. 53.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of RCI Hospitality from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. HC Wainwright restated a “buy” rating and set a $98.00 price target on shares of RCI Hospitality in a research report on Wednesday, February 12th.

RCI Hospitality Price Performance

Shares of RCI Hospitality stock opened at $45.72 on Thursday. The firm has a market cap of $405.40 million, a PE ratio of 81.64 and a beta of 1.72. The business has a 50-day moving average price of $50.63 and a 200 day moving average price of $49.58. The company has a quick ratio of 0.92, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. RCI Hospitality Holdings Inc has a twelve month low of $37.61 and a twelve month high of $61.66.

RCI Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, March 17th. RCI Hospitality’s payout ratio is 50.00%.

About RCI Hospitality

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.