Texas Roadhouse, Inc. (NASDAQ:TXRH) Holdings Lowered by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia significantly reduced its stake in Texas Roadhouse, Inc. by 98.9%, owning only 1,766 shares after selling 161,054 during the first quarter.
• Texas Roadhouse's stock is currently trading down 6.6% and has a market capitalization of $11.47 billion, with a PE ratio of 26.39.
• Multiple analysts have raised their price targets on Texas Roadhouse shares, with an average price target of $197.85 and a consensus rating of "Moderate Buy."

Bank of Nova Scotia reduced its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 98.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,766 shares of the restaurant operator's stock after selling 161,054 shares during the quarter. Bank of Nova Scotia's holdings in Texas Roadhouse were worth $294,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Coppell Advisory Solutions LLC grew its stake in Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after buying an additional 71 shares during the period. Bogart Wealth LLC purchased a new stake in Texas Roadhouse during the first quarter worth approximately $33,000. Park Place Capital Corp grew its stake in Texas Roadhouse by 459.1% during the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after buying an additional 303 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Texas Roadhouse by 41.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after purchasing an additional 112 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Texas Roadhouse by 153.9% in the first quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator's stock valued at $76,000 after purchasing an additional 277 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $1.85 during trading hours on Tuesday, reaching $176.71. The company's stock had a trading volume of 1,089,292 shares, compared to its average volume of 1,117,535. The company's 50 day simple moving average is $187.22 and its 200 day simple moving average is $179.21. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The stock has a market cap of $11.72 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $1.79 EPS. The firm's revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Donna E. Epps sold 800 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the sale, the director owned 4,632 shares of the company's stock, valued at $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TXRH shares. Citigroup upped their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Guggenheim upped their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Bank of America upped their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, UBS Group increased their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $197.85.

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.