Bank of Nova Scotia Sells 444 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bank of Nova Scotia lowered its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,820 shares of the restaurant operator’s stock after selling 444 shares during the period. Bank of Nova Scotia owned approximately 0.24% of Texas Roadhouse worth $29,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after acquiring an additional 65 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $64,000. Finally, Asset Planning Inc purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $74,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,154 shares of the 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 sale, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $181.94, for a total value of $105,525.20. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at approximately $2,183,280. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock worth $3,198,367 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Gordon Haskett cut Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a report on Wednesday, January 8th. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the company an “outperform” rating in a report on Monday. Barclays decreased their price target on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Finally, Wedbush lifted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.23.

Texas Roadhouse Trading Up 8.3 %

Shares of Texas Roadhouse stock opened at $166.00 on Thursday. The stock has a 50 day moving average of $172.79 and a 200 day moving average of $181.29. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The firm has a market cap of $11.03 billion, a PE ratio of 25.66, a PEG ratio of 1.23 and a beta of 0.88.

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

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a yield of 1.64%. Texas Roadhouse’s dividend payout ratio is 42.04%.

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.