Picton Mahoney Asset Management Buys 795 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Picton Mahoney Asset Management increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 58.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,155 shares of the restaurant operator’s stock after purchasing an additional 795 shares during the quarter. Picton Mahoney Asset Management’s holdings in Texas Roadhouse were worth $388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC grew its position in shares of Texas Roadhouse by 3.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares during the last quarter. Cornerstone Investment Partners LLC boosted its stake in Texas Roadhouse by 2.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares during the period. Lifestyle Asset Management Inc. grew its holdings in Texas Roadhouse by 3.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc increased its position in Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 buying an additional 65 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial decreased 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 note on Friday, February 21st. Gordon Haskett cut shares of 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. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price target on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Finally, Barclays dropped 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. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.73.

Insider Buying and Selling

In related news, CTO Hernan E. Mujica sold 2,050 shares of Texas Roadhouse stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $170.66, for a total value of $349,853.00. Following the transaction, the chief technology officer now directly owns 17,162 shares of the company’s stock, valued at $2,928,866.92. The trade was a 10.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the company’s stock in a transaction that occurred on 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. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 over the last 90 days. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Up 2.8 %

Shares of TXRH opened at $172.49 on Monday. The stock has a market cap of $11.46 billion, a PE ratio of 26.66, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 12-month low of $146.75 and a 12-month high of $206.04. The business has a 50-day simple moving average of $177.89 and a two-hundred day simple moving average of $181.27.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data 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. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 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 represents a $2.72 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is 42.04%.

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.