Merit Financial Group LLC Acquires Shares of 2,118 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Merit Financial Group LLC acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,118 shares of the restaurant operator's stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in shares of Texas Roadhouse in the third quarter valued at about $30,000. PSI Advisors LLC increased its holdings in Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator's stock worth $32,000 after buying an additional 75 shares during the period. UMB Bank n.a. raised its position in Texas Roadhouse by 118.6% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator's stock worth $46,000 after buying an additional 140 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Texas Roadhouse during the 2nd quarter valued at approximately $52,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator's stock valued at $53,000 after acquiring an additional 185 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the sale, the director now owns 3,532 shares in the company, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,480 shares of company stock valued at $668,603. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TXRH has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a "hold" rating in a research report on Friday, October 25th. Wedbush restated an "outperform" rating and issued a $200.00 target price on shares of Texas Roadhouse in a research note on Thursday, December 19th. Truist Financial lifted their price target on Texas Roadhouse from $207.00 to $209.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. UBS Group upped their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $200.00 target price on shares of Texas Roadhouse in a report on Thursday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Texas Roadhouse has a consensus rating of "Hold" and an average price target of $191.26.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded down $0.58 during midday trading on Friday, hitting $178.55. The company's stock had a trading volume of 854,624 shares, compared to its average volume of 646,685. The company has a market cap of $11.91 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. Texas Roadhouse, Inc. has a 12-month low of $122.16 and a 12-month high of $206.04. The business's 50 day simple moving average is $187.28 and its 200 day simple moving average is $179.22.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.06). The business had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.95 earnings per share. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.61 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.44 annualized dividend and a dividend yield of 1.37%. Texas Roadhouse's dividend payout ratio is presently 41.92%.

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.