PNC Financial Services Group Inc. Reduces Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

PNC Financial Services Group Inc. cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,993 shares of the restaurant operator’s stock after selling 994 shares during the period. PNC Financial Services Group Inc.’s holdings in Texas Roadhouse were worth $8,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC lifted its position in Texas Roadhouse by 200.6% in the second quarter. SG Americas Securities LLC now owns 19,067 shares of the restaurant operator’s stock worth $3,274,000 after buying an additional 12,725 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Texas Roadhouse by 194.9% in the third quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock valued at $11,962,000 after acquiring an additional 44,768 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Texas Roadhouse by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 483,045 shares of the restaurant operator’s stock worth $85,306,000 after purchasing an additional 4,391 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Texas Roadhouse by 320.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,940 shares of the restaurant operator’s stock valued at $2,050,000 after purchasing an additional 9,097 shares during the last quarter. Finally, Assetmark Inc. raised its position in Texas Roadhouse by 1,042.2% in the 3rd quarter. Assetmark Inc. now owns 9,709 shares of the restaurant operator’s stock worth $1,715,000 after purchasing an additional 8,859 shares during the period. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total value of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. The trade was a 8.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the sale, the director now owns 3,532 shares in the company, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Up 1.2 %

Shares of NASDAQ TXRH opened at $194.90 on Friday. Texas Roadhouse, Inc. has a 52 week low of $110.88 and a 52 week high of $203.32. The business’s 50 day moving average price is $182.88 and its 200 day moving average price is $173.59. The firm has a market cap of $13.00 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.65 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company earned $0.95 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

Analyst Ratings Changes

Several brokerages have commented on TXRH. Citigroup upped their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Truist Financial upped their target price on shares of Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Stephens lifted their price target on shares of Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Evercore ISI increased their price objective on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $189.00.

About Texas Roadhouse

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.