Texas Roadhouse, Inc. (NASDAQ:TXRH) Stock Holdings Reduced by M&T Bank Corp

M&T Bank Corp lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,524 shares of the restaurant operator’s stock after selling 486 shares during the quarter. M&T Bank Corp’s holdings in Texas Roadhouse were worth $421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new position in Texas Roadhouse in the fourth quarter valued at about $2,959,000. Zions Bancorporation N.A. grew its stake in Texas Roadhouse by 19.5% in the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator’s stock valued at $2,373,000 after purchasing an additional 2,144 shares in the last quarter. Bessemer Group Inc. grew its stake in Texas Roadhouse by 4.3% in the fourth quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator’s stock valued at $31,768,000 after purchasing an additional 7,301 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Texas Roadhouse by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator’s stock valued at $776,000 after purchasing an additional 2,848 shares in the last quarter. Finally, Comerica Bank grew its stake in Texas Roadhouse by 16.0% in the fourth quarter. Comerica Bank now owns 132,914 shares of the restaurant operator’s stock valued at $23,982,000 after purchasing an additional 18,339 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 800 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the transaction, the director owned 4,632 shares of the company’s stock, valued at $863,960.64. This represents a 14.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the transaction, the director directly owned 38,050 shares of the company’s stock, valued at approximately $7,138,941. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Down 0.4%

Texas Roadhouse stock opened at $184.01 on Thursday. The business has a 50 day moving average price of $189.67 and a two-hundred day moving average price of $178.81. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.69 EPS. On average, analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd were issued a $0.68 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a yield of 1.48%. Texas Roadhouse’s dividend payout ratio (DPR) is 41.98%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Stifel Nicolaus decreased their price target on Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley upped their price target on Texas Roadhouse from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $213.00 to $164.00 in a research note on Wednesday, April 23rd. The Goldman Sachs Group upped their price target on Texas Roadhouse from $184.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Finally, UBS Group upped their price target on Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.14.

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.