Texas Roadhouse, Inc. $TXRH Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its holdings in Texas Roadhouse by 12.5%, now owning 267,622 shares valued at approximately $44.6 million.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, with an ex-dividend date of September 2nd, representing an annual yield of 1.6%.
• In its latest earnings report, Texas Roadhouse posted $1.86 EPS, missing estimates, but reported a 12.7% increase in revenue year-over-year.

Raymond James Financial Inc. cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 12.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,622 shares of the restaurant operator's stock after selling 38,185 shares during the period. Raymond James Financial Inc. owned about 0.40% of Texas Roadhouse worth $44,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TXRH. Coppell Advisory Solutions LLC lifted its holdings in Texas Roadhouse by 56.8% in the 4th 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. Bogart Wealth LLC acquired a new stake in Texas Roadhouse during the 1st quarter worth approximately $33,000. Park Place Capital Corp increased its position in Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 303 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after purchasing an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Texas Roadhouse by 153.9% during the 1st quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator's stock worth $76,000 after purchasing an additional 277 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the sale, the director owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Texas Roadhouse Trading Up 0.4%

Shares of TXRH opened at $173.93 on Friday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The stock has a market capitalization of $11.56 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.37 and a beta of 0.86. The business's 50-day moving average price is $184.38 and its 200 day moving average price is $178.83.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business posted $1.79 earnings per share. The company's revenue was up 12.7% compared to the same quarter last year. On average, research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXRH. Morgan Stanley lifted their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Barclays raised their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Bank of America raised their target price on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Texas Roadhouse has a consensus rating of "Moderate Buy" and a consensus price target of $197.85.

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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