Mackenzie Financial Corp Sells 5,594 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Mackenzie Financial Corp cut its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,442 shares of the restaurant operator's stock after selling 5,594 shares during the period. Mackenzie Financial Corp owned about 0.07% of Texas Roadhouse worth $7,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in Texas Roadhouse during the fourth quarter valued at $2,959,000. Zions Bancorporation N.A. lifted its position in Texas Roadhouse by 19.5% during the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock valued at $2,373,000 after purchasing an additional 2,144 shares during the period. Bessemer Group Inc. lifted its position in Texas Roadhouse by 4.3% during the fourth quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator's stock valued at $31,768,000 after purchasing an additional 7,301 shares during the period. Chase Investment Counsel Corp acquired a new position in Texas Roadhouse during the fourth quarter valued at $316,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Texas Roadhouse in the fourth quarter worth about $55,177,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Curtis Warfield sold 3,281 shares of the business'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 completion of the sale, the director now directly owns 6,801 shares of the company's stock, valued at $1,249,139.67. The trade was a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the sale, the president now directly owns 18,414 shares of the company's stock, valued at $3,418,374.96. The trade was a 14.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,235 shares of company stock valued at $1,524,966. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TXRH shares. Stephens decreased their price objective on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Citigroup downgraded shares of Texas Roadhouse from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $213.00 to $164.00 in a research report on Wednesday, April 23rd. Truist Financial decreased their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. 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 company has a consensus rating of "Moderate Buy" and an average price target of $191.62.

Texas Roadhouse Stock Down 0.5%

NASDAQ TXRH traded down $0.94 during midday trading on Friday, hitting $194.85. The company had a trading volume of 887,580 shares, compared to its average volume of 916,560. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 1.23 and a beta of 0.87. The firm has a fifty day simple moving average of $173.47 and a two-hundred day simple moving average of $179.25. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Texas Roadhouse's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced 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 dividend yield of 1.40%. The ex-dividend date is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio is presently 41.98%.

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.