Mackenzie Financial Corp Grows Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Mackenzie Financial Corp boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,629 shares of the restaurant operator’s stock after acquiring an additional 998 shares during the quarter. Mackenzie Financial Corp owned 0.18% of Texas Roadhouse worth $14,867,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new stake in shares of Texas Roadhouse during the 3rd quarter worth $28,000. Neo Ivy Capital Management purchased a new stake in Texas Roadhouse during the 2nd quarter worth about $32,000. Quarry LP boosted its position in shares of Texas Roadhouse by 100.6% during the 2nd quarter. Quarry LP now owns 364 shares of the restaurant operator’s stock worth $41,000 after acquiring an additional 60,364 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $44,000. Finally, Fifth Third Bancorp raised its position in shares of Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity

In related news, Director Curtis Warfield sold 2,365 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total transaction of $351,628.20. Following the sale, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Curtis Warfield sold 2,365 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the completion of the sale, the director now owns 13,397 shares in the company, valued at $1,991,865.96. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock worth $1,843,145 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TXRH shares. Wedbush increased their price target on shares of Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Piper Sandler lifted their price target on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Robert W. Baird raised Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $175.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Jefferies Financial Group upped their target price on Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and a consensus target price of $136.05.

Texas Roadhouse Stock Up 0.7 %

Shares of NASDAQ:TXRH opened at $150.46 on Friday. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $157.12. The company has a 50-day moving average price of $148.97 and a 200 day moving average price of $124.80. The company has a market cap of $10.06 billion, a P/E ratio of 33.21, a PEG ratio of 1.64 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm earned $0.89 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. Analysts expect that Texas Roadhouse, Inc. will post 5.74 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. Texas Roadhouse’s dividend payout ratio is 53.86%.

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.