Charles Schwab Investment Management Inc. Buys 5,740 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Charles Schwab Investment Management Inc. boosted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,719 shares of the restaurant operator's stock after acquiring an additional 5,740 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of Texas Roadhouse worth $107,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Texas Roadhouse during the third quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Texas Roadhouse during the 4th quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse in the 4th quarter worth about $36,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Texas Roadhouse by 32.2% in the 4th 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. Finally, First Horizon Advisors Inc. boosted its position in shares of Texas Roadhouse by 158.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator's stock valued at $53,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TXRH shares. Barclays lowered their target price on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Morgan Stanley upgraded shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Gordon Haskett lowered shares of Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price on the stock. in a research note on Wednesday, January 8th. Wedbush decreased 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. Finally, Guggenheim cut their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and an average price target of $192.73.

Remove Ads

Insider Buying and Selling

In other news, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction 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 owns 18,414 shares of the company's stock, valued at $3,418,374.96. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total value of $602,621.27. Following the completion of the sale, the director now directly owns 6,801 shares of the company's stock, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Down 1.0 %

Texas Roadhouse stock traded down $1.80 during mid-day trading on Wednesday, reaching $175.32. 763,024 shares of the company's stock were exchanged, compared to its average volume of 1,177,191. The business's fifty day simple moving average is $178.46 and its 200 day simple moving average is $181.20. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The firm has a market capitalization of $11.65 billion, a PE ratio of 27.12, a P/E/G ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.55%. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's dividend payout ratio (DPR) is presently 42.04%.

Texas Roadhouse Company 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.