Zions Bancorporation N.A. Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Zions Bancorporation N.A. boosted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,152 shares of the restaurant operator’s stock after purchasing an additional 2,144 shares during the period. Zions Bancorporation N.A.’s holdings in Texas Roadhouse were worth $2,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in Texas Roadhouse in the 3rd quarter valued at about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Texas Roadhouse in the fourth quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in Texas Roadhouse in the fourth quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB grew its stake in Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after purchasing an additional 65 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in Texas Roadhouse during the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $177.50 on Wednesday. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The company has a 50-day simple moving average of $176.67 and a 200-day simple moving average of $181.52. The firm has a market capitalization of $11.80 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.68 dividend. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXRH. Citigroup increased their target price on Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wedbush reduced their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. Truist Financial decreased their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, The Goldman Sachs Group initiated coverage on shares of Texas Roadhouse in a research report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.91.

Insider Buying and Selling at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 2,050 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $170.66, for a total value of $349,853.00. Following the completion of the transaction, the chief technology officer now owns 17,162 shares in the company, valued at $2,928,866.92. This represents a 10.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock valued at $3,198,367 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.