Texas Roadhouse, Inc. (NASDAQ:TXRH) Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 51,752 shares of the restaurant operator’s stock after acquiring an additional 1,441 shares during the quarter. Truist Financial Corp’s holdings in Texas Roadhouse were worth $6,326,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after buying an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Texas Roadhouse by 60.9% during the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock worth $74,756,000 after buying an additional 294,425 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Texas Roadhouse by 164.8% in the third quarter. California Public Employees Retirement System now owns 362,059 shares of the restaurant operator’s stock valued at $34,794,000 after buying an additional 225,338 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Texas Roadhouse by 26.3% during the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock worth $94,735,000 after acquiring an additional 205,064 shares during the period. Finally, ING Groep NV bought a new position in shares of Texas Roadhouse during the 3rd quarter worth approximately $18,622,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $163.61 on Friday. The firm’s 50 day moving average price is $152.50 and its two-hundred day moving average price is $129.78. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $170.39. The stock has a market cap of $10.93 billion, a PE ratio of 33.12, a PEG ratio of 1.77 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Texas Roadhouse had a return on equity of 29.49% and a net margin of 6.94%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.28 EPS. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 5.9 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were paid 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 was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.49%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the 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 in the company, valued at $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Texas Roadhouse news, Director Donna E. Epps sold 670 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the transaction, the director now directly owns 4,142 shares of the company’s stock, valued at $621,175.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TXRH shares. Morgan Stanley increased their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group lifted their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 16th. Stephens upped their price objective on shares of Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Friday. Barclays lifted their target price on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on Texas Roadhouse from $145.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Friday. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $151.30.

Texas Roadhouse Company 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.