Raymond James Financial Inc. Acquires New Shares in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Raymond James Financial Inc. bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 4th quarter, Holdings Channel reports. The fund bought 305,807 shares of the restaurant operator’s stock, valued at approximately $55,177,000.

Other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in Texas Roadhouse by 8,594.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after acquiring an additional 3,094 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Texas Roadhouse in the 3rd quarter worth $17,853,000. Victory Capital Management Inc. raised its holdings in Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock worth $11,962,000 after acquiring an additional 44,768 shares during the period. Chase Investment Counsel Corp bought a new position in Texas Roadhouse in the 4th quarter worth $316,000. Finally, First Hawaiian Bank bought a new position in Texas Roadhouse in the 4th quarter worth $1,554,000. Institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Curtis Warfield sold 3,281 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the transaction, the director now directly owns 6,801 shares in the company, valued at approximately $1,249,139.67. This represents a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction that occurred on 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 owns 18,414 shares in the company, valued at $3,418,374.96. The trade was a 14.62 % 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 worth $3,198,367 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TXRH. Stephens dropped their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price objective on the stock. Royal Bank of Canada dropped their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Stifel Nicolaus dropped their price objective on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Finally, Barclays dropped their price objective on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Eleven 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 currently has an average rating of “Moderate Buy” and a consensus target price of $192.73.

Texas Roadhouse Stock Down 0.4 %

NASDAQ:TXRH opened at $178.33 on Tuesday. The firm has a market cap of $11.90 billion, a PE ratio of 27.56, a price-to-earnings-growth 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 company’s 50-day moving average price is $178.53 and its two-hundred day moving average price is $181.14.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 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 analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a yield of 1.53%. Texas Roadhouse’s payout ratio is 42.04%.

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.