Fifth Third Bancorp Acquires 1,796 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Fifth Third Bancorp increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 344.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,317 shares of the restaurant operator's stock after buying an additional 1,796 shares during the period. Fifth Third Bancorp's holdings in Texas Roadhouse were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Coppell Advisory Solutions LLC increased its stake in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after purchasing an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Texas Roadhouse in the fourth quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB increased its stake in 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 in the last quarter. VisionPoint Advisory Group LLC bought a new stake in Texas Roadhouse in the fourth quarter valued at approximately $64,000. Finally, Versant Capital Management Inc increased its stake in 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 in the last quarter. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Roadhouse

In other 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 transaction, the director now directly owns 4,632 shares of the company's stock, valued at $863,960.64. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the transaction, the director now directly owns 38,050 shares in the company, valued at $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup downgraded shares of Texas Roadhouse from a "buy" rating to a "neutral" rating and lowered their target price for the company from $213.00 to $164.00 in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Royal Bank Of Canada lowered their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research note on Friday, February 21st. Stephens reissued an "equal weight" rating and set a $170.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Texas Roadhouse from $175.00 to $170.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $191.71.

Texas Roadhouse Trading Down 0.8%

Shares of TXRH opened at $192.94 on Thursday. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The firm has a fifty day simple moving average of $180.35 and a 200 day simple moving average of $178.89. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.60 and a beta of 0.90.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, research 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio is currently 41.98%.

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.

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