M&T Bank Corp Buys 48,518 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• M&T Bank Corp dramatically increased its stake in Texas Roadhouse in Q4, buying an additional 48,518 shares (a 2,671.7% rise) to hold 50,334 shares worth about $8.36 million (≈0.08% of the company).
• Insiders have been selling: President Regina Tobin sold 4,450 shares and a director sold 850 shares, with insiders disposing of 12,988 shares worth roughly $2.22 million over the past 90 days (insiders now own 0.50%).
• Texas Roadhouse raised its quarterly dividend to $0.75 (annualized $3.00, 1.9% yield) even as it recently missed earnings (EPS $1.28 vs. $1.53 estimate) and narrowly missed revenue expectations.

M&T Bank Corp raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2,671.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,334 shares of the restaurant operator's stock after purchasing an additional 48,518 shares during the period. M&T Bank Corp owned 0.08% of Texas Roadhouse worth $8,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXRH. Princeton Global Asset Management LLC bought a new stake in Texas Roadhouse in the fourth quarter valued at $31,000. Measured Wealth Private Client Group LLC bought a new stake in Texas Roadhouse in the third quarter valued at $33,000. Root Financial Partners LLC bought a new stake in Texas Roadhouse during the 3rd quarter valued at $36,000. Salomon & Ludwin LLC increased its stake in Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 81 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Texas Roadhouse by 100.0% during the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator's stock valued at $50,000 after purchasing an additional 150 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 4,450 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the sale, the president owned 13,778 shares in the company, valued at $2,356,038. This represents a 24.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donna E. Epps sold 850 shares of the company's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the completion of the sale, the director owned 4,892 shares of the company's stock, valued at approximately $843,625.40. The trade was a 14.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,988 shares of company stock worth $2,218,144. 0.50% of the stock is owned by insiders.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $159.78 on Friday. Texas Roadhouse, Inc. has a 1 year low of $156.00 and a 1 year high of $199.99. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.79 and a beta of 0.88. The company has a fifty day moving average price of $170.05 and a 200-day moving average price of $173.13.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business's revenue was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that Texas Roadhouse, Inc. will post 6.34 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, March 17th. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.68. Texas Roadhouse's dividend payout ratio (DPR) is currently 49.26%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a "neutral" rating in a research note on Wednesday, January 28th. Barclays set a $188.00 price target on shares of Texas Roadhouse in a research note on Friday, February 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a research note on Monday, December 29th. BTIG Research restated a "buy" rating and set a $200.00 price target on shares of Texas Roadhouse in a research note on Friday, February 20th. Finally, Stephens boosted their price target on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and an average target price of $195.14.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

Want to see what other hedge funds are holding TXRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.