Texas Roadhouse, Inc. $TXRH Shares Acquired by M&T Bank Corp

M&T Bank Corp lifted its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 222.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,863 shares of the restaurant operator’s stock after buying an additional 4,047 shares during the quarter. M&T Bank Corp’s holdings in Texas Roadhouse were worth $973,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TXRH. NewEdge Advisors LLC lifted its position in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 259 shares during the period. Focus Partners Wealth lifted its position in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after purchasing an additional 1,157 shares during the period. Geneos Wealth Management Inc. lifted its position in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after purchasing an additional 111 shares during the period. Sivia Capital Partners LLC acquired a new stake in Texas Roadhouse in the second quarter valued at about $657,000. Finally, Marshall Wace LLP acquired a new stake in Texas Roadhouse in the second quarter valued at about $1,936,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 0.0%

TXRH stock opened at $177.30 on Monday. The firm has a 50 day moving average of $166.81 and a 200-day moving average of $172.64. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $199.99. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.03 and a beta of 0.77.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $1.70 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.33 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is presently 47.92%.

Key Stories Impacting Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Texas Roadhouse reported first-quarter EPS of $1.87, ahead of consensus estimates, while revenue rose 10.5% year over year to $1.63 billion, signaling continued demand for its restaurants.
• Positive Sentiment: The company raised its quarterly dividend to $0.75 per share, reinforcing management’s confidence in cash generation and giving income-focused investors a larger payout.
• Positive Sentiment: Several market headlines pointed to the stock surging after the earnings release, suggesting investors viewed the quarter as better than expected overall, despite a slight revenue miss versus estimates.
• Neutral Sentiment: Analysts and commentary were mixed on the report: earnings were strong, but revenue came in slightly below expectations, keeping some caution around how much upside is left after the post-earnings move.
• Neutral Sentiment: A Seeking Alpha piece on May 8 upgraded the stock, but described upside potential as only moderate, implying the shares may be fairly valued after the recent run-up. Texas Roadhouse: It Hasn’t Bottomed Out Yet, But Upside Potential Is Medium Well (Rating Upgrade)

Insider Activity at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,700 shares of Texas Roadhouse stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $171.59, for a total transaction of $291,703.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 850 shares of Texas Roadhouse stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $172.45, for a total transaction of $146,582.50. Following the sale, the director owned 4,892 shares of the company’s stock, valued at approximately $843,625.40. The trade was a 14.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,988 shares of company stock worth $2,218,144. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on TXRH. Royal Bank Of Canada raised their price objective on shares of Texas Roadhouse from $175.00 to $180.00 and gave the company a “sector perform” rating in a research report on Friday. Wells Fargo & Company reduced their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $200.00 price objective on shares of Texas Roadhouse in a research report on Friday. BTIG Research restated a “buy” rating and issued a $200.00 price objective on shares of Texas Roadhouse in a research report on Friday, February 20th. Finally, Stephens raised their price objective on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $193.90.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand?cut steaks, fall?off?the?bone ribs, chicken, seafood and house specialties. Each restaurant features a Western?themed décor, open kitchens and a signature line dance presentation of fresh, made?from?scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family?friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high?quality steaks with an approachable, community?oriented atmosphere.