Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Bought by Bank of Montreal Can

Posted by Defense World Staff on Apr 29th, 2023

Bank of Montreal Can grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Rating) by 61.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,866 shares of the restaurant operator’s stock after acquiring an additional 3,369 shares during the period. Bank of Montreal Can’s holdings in Texas Roadhouse were worth $868,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. grew its stake in Texas Roadhouse by 7.8% in the first quarter. BlackRock Inc. now owns 8,127,535 shares of the restaurant operator’s stock worth $680,519,000 after purchasing an additional 585,944 shares in the last quarter. Macquarie Group Ltd. grew its stake in Texas Roadhouse by 8.9% in the second quarter. Macquarie Group Ltd. now owns 2,560,882 shares of the restaurant operator’s stock worth $187,457,000 after purchasing an additional 208,566 shares in the last quarter. State Street Corp grew its stake in Texas Roadhouse by 4.1% in the first quarter. State Street Corp now owns 2,195,555 shares of the restaurant operator’s stock worth $183,834,000 after purchasing an additional 86,838 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Texas Roadhouse by 0.7% in the third quarter. Neuberger Berman Group LLC now owns 1,727,919 shares of the restaurant operator’s stock worth $150,779,000 after purchasing an additional 11,660 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Texas Roadhouse by 11.8% in the first quarter. Wellington Management Group LLP now owns 1,466,644 shares of the restaurant operator’s stock worth $122,802,000 after purchasing an additional 154,302 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $110.62 on Friday. Texas Roadhouse, Inc. has a 12 month low of $68.58 and a 12 month high of $113.20. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.37 and a beta of 0.95. The stock’s 50 day moving average price is $106.74 and its 200 day moving average price is $101.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.61 and a quick ratio of 0.55.

Texas Roadhouse (NASDAQ:TXRH – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The restaurant operator reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.13). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Texas Roadhouse had a net margin of 6.72% and a return on equity of 26.92%. Texas Roadhouse’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 4.71 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Wednesday, March 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $2.20 annualized dividend and a dividend yield of 1.99%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.46. Texas Roadhouse’s dividend payout ratio is currently 55.42%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CMO S. Chris Jacobsen sold 3,487 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $110.06, for a total transaction of $383,779.22. Following the transaction, the chief marketing officer now directly owns 23,879 shares in the company, valued at approximately $2,628,122.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Texas Roadhouse news, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $104.80, for a total transaction of $104,800.00. Following the transaction, the director now directly owns 57,050 shares in the company, valued at approximately $5,978,840. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO S. Chris Jacobsen sold 3,487 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $110.06, for a total transaction of $383,779.22. Following the transaction, the chief marketing officer now owns 23,879 shares in the company, valued at $2,628,122.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,702 shares of company stock valued at $824,045. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TXRH. Morgan Stanley lifted their price target on Texas Roadhouse from $102.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Monday, April 17th. BTIG Research lifted their target price on Texas Roadhouse from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Raymond James downgraded Texas Roadhouse from an “outperform” rating to a “market perform” rating in a research note on Monday, April 17th. Northcoast Research downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 22nd. Finally, StockNews.com upgraded Texas Roadhouse from a “hold” rating to a “buy” rating in a research note on Monday, April 17th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Texas Roadhouse currently has an average rating of “Hold” and a consensus price target of $108.22.

Texas Roadhouse Profile

(Get Rating)

Texas Roadhouse, Inc is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches.