TD Asset Management Inc Reduces Stake in Texas Roadhouse, Inc. $TXRH

TD Asset Management Inc lessened its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 51.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 334,664 shares of the restaurant operator’s stock after selling 351,658 shares during the period. TD Asset Management Inc owned 0.50% of Texas Roadhouse worth $55,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caldwell Trust Co acquired a new stake in Texas Roadhouse during the second quarter worth about $28,000. Root Financial Partners LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $36,000. Salomon & Ludwin LLC increased its holdings in shares of Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock worth $50,000 after buying an additional 81 shares during the last quarter. LRI Investments LLC raised its position in shares of Texas Roadhouse by 100.0% during the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 150 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Texas Roadhouse by 100.6% in the third quarter. Parkside Financial Bank & Trust now owns 355 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,400 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total value of $238,000.00. Following the completion of the transaction, the director owned 32,150 shares in the company, valued at $5,465,500. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the sale, the chief executive officer owned 91,774 shares in the company, valued at approximately $17,987,704. The trade was a 5.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,400 shares of company stock valued at $2,320,920 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TXRH. Wells Fargo & Company raised their target price on Texas Roadhouse from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. BMO Capital Markets reissued a “market perform” rating and set a $165.00 price objective on shares of Texas Roadhouse in a research report on Friday, February 20th. Citigroup reduced their price objective on shares of Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. UBS Group reiterated a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Finally, Stephens boosted their price target on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.55.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $184.37 on Friday. The company has a market cap of $12.20 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.96 and a beta of 0.88. The stock has a 50-day moving average of $181.68 and a two-hundred day moving average of $173.54. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.73 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts anticipate 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, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.75 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 44.66%.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.