M&T Bank Corp Sells 91 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

M&T Bank Corp lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,010 shares of the restaurant operator’s stock after selling 91 shares during the quarter. M&T Bank Corp’s holdings in Texas Roadhouse were worth $543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in Texas Roadhouse by 8,594.4% during the third quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after purchasing an additional 3,094 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Texas Roadhouse during the third quarter worth about $17,853,000. Victory Capital Management Inc. boosted its position in Texas Roadhouse by 194.9% during the third quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock worth $11,962,000 after purchasing an additional 44,768 shares during the period. Chase Investment Counsel Corp bought a new position in Texas Roadhouse during the fourth quarter worth about $316,000. Finally, First Hawaiian Bank bought a new position in Texas Roadhouse during the fourth quarter worth about $1,554,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

TXRH stock opened at $167.78 on Friday. The company has a market capitalization of $11.15 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The company’s 50 day moving average price is $178.10 and its two-hundred day moving average price is $181.07.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly 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. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.62%. Texas Roadhouse’s dividend payout ratio (DPR) is 42.04%.

Insiders Place Their Bets

In other news, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. This trade represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TXRH shares. 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 for the company in a research report on Friday, February 21st. Stephens lowered 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 report on Friday, February 21st. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target on the stock. Truist Financial lowered their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a report on Wednesday, January 8th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.73.

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.