Daiwa Securities Group Inc. Boosts Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Daiwa Securities Group Inc. grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,900 shares of the restaurant operator’s stock after acquiring an additional 600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Texas Roadhouse were worth $523,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TXRH. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Texas Roadhouse by 15.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,081 shares of the restaurant operator’s stock worth $3,082,000 after buying an additional 2,238 shares during the period. Larson Financial Group LLC increased its stake in shares of Texas Roadhouse by 10.6% in the fourth quarter. Larson Financial Group LLC now owns 1,236 shares of the restaurant operator’s stock worth $223,000 after buying an additional 118 shares during the period. Banco Santander S.A. purchased a new position in shares of Texas Roadhouse in the fourth quarter worth $6,871,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Texas Roadhouse by 13.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 55,711 shares of the restaurant operator’s stock worth $10,130,000 after buying an additional 6,814 shares during the period. Finally, Machina Capital S.A.S. increased its stake in shares of Texas Roadhouse by 67.4% in the fourth quarter. Machina Capital S.A.S. now owns 2,632 shares of the restaurant operator’s stock worth $475,000 after buying an additional 1,060 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a document filed 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 dated Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the sale, the president now directly owns 18,414 shares of the company’s stock, valued at $3,418,374.96. The trade was a 14.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TXRH has been the topic of several analyst reports. Royal Bank of Canada decreased their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Truist Financial cut 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. Citigroup lifted their price target on shares of Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. Guggenheim cut their price target on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Stephens cut 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. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.73.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $172.49 on Monday. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.23 and a beta of 1.00. The firm’s 50-day moving average is $177.89 and its 200 day moving average is $181.27. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04.

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

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.68 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.58%. Texas Roadhouse’s payout ratio is 42.04%.

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.