Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,238 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 15.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,081 shares of the restaurant operator’s stock after buying an additional 2,238 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Texas Roadhouse were worth $3,082,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in shares of Texas Roadhouse by 2.0% during the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock worth $350,171,000 after buying an additional 38,723 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Texas Roadhouse by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock worth $212,261,000 after buying an additional 18,126 shares in the last quarter. Barclays PLC grew its holdings in shares of Texas Roadhouse by 14.4% during the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock worth $208,539,000 after buying an additional 148,462 shares in the last quarter. FMR LLC grew its holdings in shares of Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after buying an additional 403,720 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Texas Roadhouse by 76.0% during the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after buying an additional 385,998 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher C. Colson sold 580 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at $2,183,280. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock worth $3,198,367 in the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays decreased their price objective on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Wedbush decreased their price target on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, February 21st. Stephens decreased their price target on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target for the company. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Moderate Buy” and an average target price of $192.73.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $172.49 on Friday. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The business’s fifty day moving average is $177.89 and its 200-day moving average is $181.19. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.58%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is currently 42.04%.

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.