Mackenzie Financial Corp Grows Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Mackenzie Financial Corp increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 121,629 shares of the restaurant operator’s stock after acquiring an additional 998 shares during the quarter. Mackenzie Financial Corp’s holdings in Texas Roadhouse were worth $14,867,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Texas Roadhouse by 1.5% in the 1st quarter. BlackRock Inc. now owns 8,506,175 shares of the restaurant operator’s stock worth $919,177,000 after purchasing an additional 122,241 shares during the last quarter. Macquarie Group Ltd. raised its stake in Texas Roadhouse by 8.9% during the second quarter. Macquarie Group Ltd. now owns 2,560,882 shares of the restaurant operator’s stock valued at $187,457,000 after buying an additional 208,566 shares in the last quarter. Bank of America Corp DE lifted its holdings in Texas Roadhouse by 82.5% during the 1st quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator’s stock worth $254,969,000 after buying an additional 1,066,581 shares during the last quarter. State Street Corp grew its position in shares of Texas Roadhouse by 1.6% in the 1st quarter. State Street Corp now owns 2,203,949 shares of the restaurant operator’s stock worth $238,159,000 after acquiring an additional 34,829 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Texas Roadhouse by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock valued at $173,694,000 after acquiring an additional 29,506 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $150.46 on Friday. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 1.64 and a beta of 0.99. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $157.12. The stock’s 50 day moving average price is $148.97 and its 200 day moving average price is $124.80.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 5.74 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.62%. Texas Roadhouse’s dividend payout ratio (DPR) is 53.86%.

Insider Transactions at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the sale, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Christopher C. Colson sold 405 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at $1,266,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the sale, the chief executive officer now directly owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock valued at $1,843,145 in the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Stephens began coverage on shares of Texas Roadhouse in a research note on Friday, April 12th. They set an “equal weight” rating and a $150.00 target price for the company. Robert W. Baird raised shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $175.00 in a research report on Wednesday, March 13th. Jefferies Financial Group raised their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday. Wells Fargo & Company upped their target price on Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their price target on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $136.05.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.