JPMorgan Chase & Co. Sells 6,222 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

JPMorgan Chase & Co. cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 560,346 shares of the restaurant operator's stock after selling 6,222 shares during the quarter. JPMorgan Chase & Co. owned about 0.84% of Texas Roadhouse worth $101,103,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Zions Bancorporation N.A. raised its position in shares of Texas Roadhouse by 19.5% during the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock worth $2,373,000 after purchasing an additional 2,144 shares during the period. KLP Kapitalforvaltning AS bought a new position in Texas Roadhouse in the fourth quarter valued at $2,959,000. Chase Investment Counsel Corp acquired a new position in Texas Roadhouse during the fourth quarter valued at approximately $316,000. Raymond James Financial Inc. bought a new position in shares of Texas Roadhouse in the fourth quarter valued at $55,177,000. Finally, First Hawaiian Bank acquired a new stake in Texas Roadhouse in the fourth quarter valued at $1,554,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXRH has been the topic of several research reports. Guggenheim decreased their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Gordon Haskett downgraded Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Wednesday, January 8th. Morgan Stanley upgraded Texas Roadhouse from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Stephens decreased their price target on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Finally, Citigroup upped their target price on Texas Roadhouse from $212.00 to $213.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.36.

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Texas Roadhouse Stock Performance

Shares of TXRH traded down $7.19 during mid-day trading on Friday, reaching $159.86. The company had a trading volume of 1,929,890 shares, compared to its average volume of 850,917. Texas Roadhouse, Inc. has a 52 week low of $146.75 and a 52 week high of $206.04. The firm has a 50-day moving average price of $175.08 and a 200 day moving average price of $181.66. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

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

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 2,700 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher C. Colson sold 1,370 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 10,000 shares of the company's stock, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 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.