Invesco Ltd. Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Invesco Ltd. raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,479,323 shares of the restaurant operator’s stock after buying an additional 138,675 shares during the quarter. Invesco Ltd.’s holdings in Texas Roadhouse were worth $447,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Texas Roadhouse during the fourth quarter worth about $155,239,000. FMR LLC lifted its holdings in Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock valued at $234,737,000 after acquiring an additional 402,465 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after buying an additional 385,998 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Texas Roadhouse during the 4th quarter worth $55,177,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Texas Roadhouse by 29.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator’s stock valued at $147,866,000 after purchasing an additional 184,250 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. dropped their price target on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Stephens dropped 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 research note on Friday, February 21st. Royal Bank of Canada cut their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Citigroup increased their price target on Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.23.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,794,600. This represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents 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 quarter. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Trading Down 1.1 %

Shares of Texas Roadhouse stock opened at $153.22 on Wednesday. Texas Roadhouse, Inc. has a 12-month low of $146.75 and a 12-month high of $206.04. The stock has a fifty day simple moving average of $173.42 and a 200 day simple moving average of $181.46. The company has a market capitalization of $10.18 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.78%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

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.