Franklin Resources Inc. Grows Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Franklin Resources Inc. grew its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 966,611 shares of the restaurant operator's stock after purchasing an additional 72,686 shares during the period. Franklin Resources Inc. owned approximately 1.45% of Texas Roadhouse worth $174,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation N.A. grew its position in Texas Roadhouse by 19.5% in the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock valued at $2,373,000 after acquiring an additional 2,144 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $2,959,000. Chase Investment Counsel Corp bought a new stake in shares of Texas Roadhouse during the 4th quarter valued at approximately $316,000. Raymond James Financial Inc. bought a new position in Texas Roadhouse in the 4th quarter valued at approximately $55,177,000. Finally, First Hawaiian Bank acquired a new stake in Texas Roadhouse in the fourth quarter valued at approximately $1,554,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded down $7.19 on Friday, reaching $159.86. 1,929,890 shares of the company's stock were exchanged, compared to its average volume of 850,917. The firm's 50-day moving average is $175.08 and its two-hundred day moving average is $181.66. The company has a market capitalization of $10.62 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 52 week low of $146.75 and a 52 week high of $206.04.

Remove Ads

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.41 billion. On average, analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, March 18th. Texas Roadhouse's payout ratio is presently 42.04%.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of research reports. Citigroup increased their price target on Texas Roadhouse from $212.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. dropped their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Stephens reduced their price target on Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Morgan Stanley raised Texas Roadhouse from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus cut their target price on shares of Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $193.36.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares of the company's stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock valued at $3,198,367 in the last three months. Corporate 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.