PNC Financial Services Group Inc. Lowers Holdings in Texas Roadhouse, Inc. $TXRH

PNC Financial Services Group Inc. decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.2% in the second quarter, HoldingsChannel.com reports. The fund owned 49,290 shares of the restaurant operator’s stock after selling 611 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Texas Roadhouse were worth $9,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Axiom Investors LLC DE increased its stake in Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock worth $362,221,000 after acquiring an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock valued at $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Texas Roadhouse by 54.3% during the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator’s stock valued at $209,840,000 after purchasing an additional 443,767 shares during the last quarter. Geneva Capital Management LLC raised its holdings in Texas Roadhouse by 6.1% during the 2nd quarter. Geneva Capital Management LLC now owns 961,390 shares of the restaurant operator’s stock valued at $180,174,000 after buying an additional 54,993 shares during the period. Finally, Wellington Management Group LLP lifted its position in Texas Roadhouse by 9.8% in the first quarter. Wellington Management Group LLP now owns 750,479 shares of the restaurant operator’s stock worth $125,052,000 after buying an additional 66,731 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TXRH shares. The Goldman Sachs Group cut their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Truist Financial cut their price target on shares of Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Stephens reduced their price objective on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Finally, Evercore ISI downgraded Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price target on the stock. in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.95.

Texas Roadhouse Stock Down 0.4%

Shares of NASDAQ:TXRH opened at $167.35 on Friday. The firm has a 50 day moving average of $167.11 and a 200 day moving average of $178.03. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $1.26 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio is presently 41.59%.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director directly owned 34,550 shares of the company’s stock, valued at $5,979,223. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the firm’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the sale, the chief technology officer directly owned 17,553 shares of the company’s stock, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 8,342 shares of company stock worth $1,443,704. Insiders own 0.50% of the company’s stock.

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.