Truist Financial Corp Increases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Truist Financial Corp boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,799 shares of the restaurant operator’s stock after purchasing an additional 516 shares during the period. Truist Financial Corp owned about 0.07% of Texas Roadhouse worth $8,985,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $30,000. True Wealth Design LLC purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $30,000. PSI Advisors LLC increased its stake in Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 65 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 185 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TXRH shares. Stifel Nicolaus reduced their target price on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday. The Goldman Sachs Group started coverage on Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price on the stock. BMO Capital Markets boosted their target price on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Robert W. Baird boosted their target price on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Barclays reduced their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and an average target price of $192.50.

Texas Roadhouse Trading Down 1.4 %

Texas Roadhouse stock opened at $169.13 on Friday. The company has a market capitalization of $11.28 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. Texas Roadhouse, Inc. has a 12 month low of $146.51 and a 12 month high of $206.04. The business’s fifty day simple moving average is $179.58 and its two-hundred day simple moving average is $180.02.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares in the company, valued at approximately $1,794,600. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse 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.