Comerica Bank Raises Stake in Texas Roadhouse, Inc. $TXRH

Key Points

• Comerica Bank raised its stake in Texas Roadhouse, Inc. by 4.7%, now owning approximately 0.21% of the company valued at $23.18 million.
• Multiple hedge funds have increased their holdings in Texas Roadhouse, with 94.82% of the stock now owned by institutional investors and hedge funds.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, equating to an annual dividend yield of 1.5%.

Comerica Bank increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,153 shares of the restaurant operator's stock after acquiring an additional 6,239 shares during the period. Comerica Bank owned approximately 0.21% of Texas Roadhouse worth $23,187,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group boosted its position in shares of Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after acquiring an additional 134 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Texas Roadhouse in the first quarter worth approximately $33,000. Coppell Advisory Solutions LLC boosted its position in shares of Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after acquiring an additional 71 shares during the last quarter. Park Place Capital Corp boosted its position in shares of Texas Roadhouse by 459.1% in the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after acquiring an additional 303 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position 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 worth $63,000 after acquiring an additional 112 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXRH. Melius began coverage on shares of Texas Roadhouse in a research report on Monday, July 14th. They issued a "buy" rating and a $235.00 target price on the stock. Morgan Stanley raised their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. The Goldman Sachs Group lifted their price target on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, UBS Group lifted their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Texas Roadhouse currently has an average rating of "Moderate Buy" and a consensus target price of $197.85.

Texas Roadhouse Trading Up 2.0%

NASDAQ TXRH opened at $177.33 on Monday. The company's fifty day simple moving average is $184.28 and its 200-day simple moving average is $178.78. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The stock has a market cap of $11.78 billion, a P/E ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS 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 for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. The company's revenue for the quarter was up 12.7% on a year-over-year basis. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. 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 payout ratio is presently 41.53%.

Insider Transactions at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,153 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares of the company's stock, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer directly owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,342 shares of company stock valued at $1,443,704. Corporate insiders own 0.50% of the company's stock.

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.

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