First Horizon Advisors Inc. boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Rating) by 46.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 428 shares of the restaurant operator’s stock after purchasing an additional 136 shares during the period. First Horizon Advisors Inc.’s holdings in Texas Roadhouse were worth $38,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC purchased a new position in Texas Roadhouse during the third quarter valued at approximately $34,000. CWM LLC acquired a new stake in Texas Roadhouse in the fourth quarter valued at approximately $61,000. JJJ Advisors Inc. lifted its stake in shares of Texas Roadhouse by 65.8% in the fourth quarter. JJJ Advisors Inc. now owns 771 shares of the restaurant operator’s stock worth $69,000 after buying an additional 306 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Texas Roadhouse in the fourth quarter worth $71,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Texas Roadhouse in the third quarter worth $79,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on TXRH shares. Northcoast Research started coverage on shares of Texas Roadhouse in a research note on Wednesday, May 4th. They issued a “buy” rating and a $108.00 price objective for the company. Morgan Stanley cut their target price on shares of Texas Roadhouse from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Thursday, April 14th. Truist Financial cut their target price on shares of Texas Roadhouse from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. StockNews.com cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Stifel Nicolaus upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Friday, March 11th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $106.00.
Texas Roadhouse (NASDAQ:TXRH – Get Rating) last released its earnings results on Thursday, May 5th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.17. Texas Roadhouse had a net margin of 7.02% and a return on equity of 24.11%. The company had revenue of $987.60 million for the quarter, compared to the consensus estimate of $973.62 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue was up 23.4% compared to the same quarter last year. On average, equities analysts expect that Texas Roadhouse, Inc. will post 3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Wednesday, March 9th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 2.34%. Texas Roadhouse’s dividend payout ratio is presently 50.14%.
In related news, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 22nd. The shares were sold at an average price of $85.00, for a total value of $85,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tonya Robinson sold 2,499 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $92.00, for a total transaction of $229,908.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,799 shares of company stock worth $872,001. Corporate insiders own 4.99% of the company’s stock.
About Texas Roadhouse (Get Rating)
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants.
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