Raymond James Financial Inc. Acquires Shares of 305,807 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Raymond James Financial Inc. acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 305,807 shares of the restaurant operator's stock, valued at approximately $55,177,000. Raymond James Financial Inc. owned about 0.46% of Texas Roadhouse at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its stake in Texas Roadhouse by 2.0% during the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator's stock worth $350,171,000 after acquiring an additional 38,723 shares in the last quarter. Geode Capital Management LLC increased its position in Texas Roadhouse by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator's stock worth $212,261,000 after purchasing an additional 18,126 shares in the last quarter. Barclays PLC lifted its stake in Texas Roadhouse by 14.4% in the 3rd quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator's stock valued at $208,539,000 after purchasing an additional 148,462 shares during the last quarter. Geneva Capital Management LLC boosted its position in Texas Roadhouse by 0.4% in the third quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator's stock valued at $162,897,000 after buying an additional 3,584 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator's stock worth $158,679,000 after buying an additional 403,720 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Gordon Haskett downgraded Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research report on Wednesday, January 8th. Wedbush dropped their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, February 21st. Truist Financial reduced their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada lowered their target price on Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Finally, Barclays cut their target price on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $192.73.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 4,190 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $178.80, for a total value of $749,172.00. Following the completion of the sale, the director now owns 10,082 shares in the company, valued at approximately $1,802,661.60. This trade represents a 29.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction 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. This represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Shares of TXRH traded down $7.61 during trading hours on Thursday, hitting $167.78. The stock had a trading volume of 1,464,799 shares, compared to its average volume of 1,191,939. The firm has a 50 day simple moving average of $178.10 and a 200-day simple moving average of $181.07. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04. The firm has a market capitalization of $11.15 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued 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 is Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.62%. Texas Roadhouse's dividend payout ratio is presently 42.04%.

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.