Royal Bank of Canada Acquires 6,954 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Royal Bank of Canada increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,339 shares of the restaurant operator’s stock after purchasing an additional 6,954 shares during the period. Royal Bank of Canada owned 0.23% of Texas Roadhouse worth $27,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TXRH. Norges Bank purchased a new stake in Texas Roadhouse in the fourth quarter worth $155,239,000. FMR LLC grew its stake in shares of Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock worth $234,737,000 after acquiring an additional 402,465 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Roadhouse by 255.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator’s stock worth $93,888,000 after acquiring an additional 373,812 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Texas Roadhouse in the fourth quarter worth $55,177,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Texas Roadhouse by 29.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator’s stock worth $147,866,000 after acquiring an additional 184,250 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Curtis Warfield sold 4,190 shares of Texas Roadhouse stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the transaction, the director now directly owns 10,082 shares of the company’s stock, valued at $1,802,661.60. The trade was a 29.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was 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 18,335 shares of company stock valued at $3,289,343 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Performance

TXRH stock opened at $189.99 on Friday. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The business’s 50-day moving average is $171.21 and its two-hundred day moving average is $179.58. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 1.23 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.43%. Texas Roadhouse’s payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Truist Financial cut their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Citigroup cut Texas Roadhouse from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $213.00 to $164.00 in a research report on Wednesday, April 23rd. Barclays dropped their price objective on Texas Roadhouse from $179.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Finally, Stifel Nicolaus dropped their price objective on Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $191.62.

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.