Comerica Bank Acquires 18,339 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Comerica Bank lifted its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 16.0% during the fourth quarter, HoldingsChannel reports. The firm owned 132,914 shares of the restaurant operator’s stock after acquiring an additional 18,339 shares during the quarter. Comerica Bank’s holdings in Texas Roadhouse were worth $23,982,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its holdings in Texas Roadhouse by 22.7% during the 4th quarter. Northern Trust Corp now owns 594,406 shares of the restaurant operator’s stock worth $107,249,000 after buying an additional 110,128 shares during the period. Quarry LP boosted its stake in Texas Roadhouse by 18.7% in the 4th quarter. Quarry LP now owns 597 shares of the restaurant operator’s stock worth $108,000 after purchasing an additional 94 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Texas Roadhouse during the 4th quarter worth about $1,546,000. Two Sigma Securities LLC raised its stake in shares of Texas Roadhouse by 3,604.0% in the 4th quarter. Two Sigma Securities LLC now owns 3,704 shares of the restaurant operator’s stock valued at $668,000 after purchasing an additional 3,604 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in shares of Texas Roadhouse by 1.3% in the fourth quarter. Hancock Whitney Corp now owns 11,325 shares of the restaurant operator’s stock valued at $2,043,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of research reports. Stephens decreased their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Wedbush lifted their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, March 28th. 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. Citigroup lowered shares of Texas Roadhouse from a “buy” rating to a “neutral” rating and lowered their price target for the company from $213.00 to $164.00 in a research note on Wednesday, April 23rd. Finally, Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the stock an “outperform” rating in a research note on Monday, April 7th. Ten research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.29.

Texas Roadhouse Price Performance

TXRH stock opened at $165.96 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.23 and a beta of 0.88. The business’s fifty day moving average price is $169.15 and its two-hundred day moving average price is $179.82.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.41 billion. Research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.64%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Curtis Warfield sold 3,281 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the sale, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. This represents a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,535 shares of company stock worth $2,952,507 in the last 90 days. Company 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.