Zions Bancorporation National Association UT Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Zions Bancorporation National Association UT purchased 12,686 shares of Texas Roadhouse, valued at approximately $2.11 million, during the first quarter as per a recent SEC filing.
• Texas Roadhouse reported a quarterly earnings miss, with $1.86 earnings per share against a consensus estimate of $1.95, though its revenue increased by 12.7% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, representing a 1.6% yield, payable on September 30th to shareholders of record on September 2nd.

Zions Bancorporation National Association UT purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,686 shares of the restaurant operator's stock, valued at approximately $2,114,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Texas Roadhouse by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock valued at $776,000 after buying an additional 2,848 shares during the period. Comerica Bank increased its stake in shares of Texas Roadhouse by 16.0% during the fourth quarter. Comerica Bank now owns 132,914 shares of the restaurant operator's stock valued at $23,982,000 after buying an additional 18,339 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Texas Roadhouse by 253.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock valued at $6,346,000 after purchasing an additional 27,312 shares during the last quarter. Brighton Jones LLC acquired a new stake in Texas Roadhouse in the first quarter worth about $499,000. Finally, Running Oak Capital LLC boosted its holdings in Texas Roadhouse by 9.3% in the first quarter. Running Oak Capital LLC now owns 89,385 shares of the restaurant operator's stock worth $14,933,000 after acquiring an additional 7,628 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Down 1.3%

Shares of Texas Roadhouse stock traded down $2.37 during trading on Wednesday, hitting $174.35. 476,081 shares of the stock were exchanged, compared to its average volume of 1,113,305. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86. The company has a fifty day moving average price of $186.83 and a 200-day moving average price of $179.19. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (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 company earned $1.79 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TXRH. Stephens boosted their price target on Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Morgan Stanley boosted their price target on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Citigroup boosted their price target on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Finally, Melius began coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $197.85.

Insider Activity

In other news, Director Donna E. Epps sold 800 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the transaction, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.