Zions Bancorporation N.A. Raises Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Zions Bancorporation N.A. increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 19.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,152 shares of the restaurant operator’s stock after purchasing an additional 2,144 shares during the quarter. Zions Bancorporation N.A.’s holdings in Texas Roadhouse were worth $2,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new position in Texas Roadhouse during the third quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Texas Roadhouse in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in Texas Roadhouse by 32.2% during the fourth 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 last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in Texas Roadhouse during the fourth quarter worth $64,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

TXRH has been the subject of a number of research analyst reports. Guggenheim dropped their price target on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Truist Financial lowered their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada cut their price objective on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Finally, Gordon Haskett cut Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a report on Wednesday, January 8th. Eleven investment 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, the company currently has an average rating of “Moderate Buy” and an average price target of $192.91.

Texas Roadhouse Stock Up 0.9 %

Shares of NASDAQ TXRH opened at $177.50 on Wednesday. The stock has a market capitalization of $11.80 billion, a PE ratio of 27.43, a P/E/G ratio of 1.23 and a beta of 1.00. The firm has a fifty day moving average of $176.67 and a 200-day moving average of $181.52. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted 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 during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced 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. This represents a $2.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is 42.04%.

Insider Activity at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $168.26, for a total transaction of $454,302.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,905 shares of company stock worth $3,198,367. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.