Hsbc Holdings PLC Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Hsbc Holdings PLC boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 114.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,425 shares of the restaurant operator's stock after purchasing an additional 18,900 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of Texas Roadhouse worth $6,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after acquiring an additional 65 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $64,000. Finally, Asset Planning Inc purchased a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $74,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush lifted their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. Royal Bank of Canada lowered 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 note on Friday, February 21st. Truist Financial dropped their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a report on Friday, February 21st. Barclays increased their target price on shares of Texas Roadhouse from $178.00 to $179.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Finally, Robert W. Baird set a $180.00 target price on shares of Texas Roadhouse and gave the stock an "outperform" rating in a report on Monday, April 7th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.29.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $166.66 on Tuesday. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The company has a 50 day simple moving average of $169.35 and a two-hundred day simple moving average of $180.03. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.68 per share. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.63%. Texas Roadhouse's dividend payout ratio (DPR) is currently 42.04%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 2,700 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Curtis Warfield sold 4,190 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $178.80, for a total transaction of $749,172.00. Following the sale, the director now directly owns 10,082 shares of the company's stock, valued at $1,802,661.60. This trade represents a 29.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,535 shares of company stock valued at $2,952,507. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse 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.

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