First Citizens Bank & Trust Co. lowered its stake in shares of Texas Roadhouse Inc. (NASDAQ:TXRH) by 9.1% during the second quarter, Holdings Channel reports. The fund owned 14,608 shares of the company’s stock after selling 1,460 shares during the period. First Citizens Bank & Trust Co.’s holdings in Texas Roadhouse were worth $666,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Creative Planning increased its position in shares of Texas Roadhouse by 31.2% in the second quarter. Creative Planning now owns 2,481 shares of the company’s stock valued at $113,000 after buying an additional 590 shares during the period. IFP Advisors Inc increased its position in shares of Texas Roadhouse by 24.0% in the first quarter. IFP Advisors Inc now owns 2,908 shares of the company’s stock valued at $127,000 after buying an additional 563 shares during the period. LS Investment Advisors LLC increased its position in shares of Texas Roadhouse by 66.1% in the second quarter. LS Investment Advisors LLC now owns 3,891 shares of the company’s stock valued at $177,000 after buying an additional 1,548 shares during the period. BlackRock Inc. increased its position in shares of Texas Roadhouse by 126.1% in the first quarter. BlackRock Inc. now owns 4,781 shares of the company’s stock valued at $208,000 after buying an additional 2,666 shares during the period. Finally, Parametrica Management Ltd bought a new position in shares of Texas Roadhouse during the second quarter valued at approximately $224,000. 88.84% of the stock is currently owned by hedge funds and other institutional investors.
Texas Roadhouse Inc. (NASDAQ:TXRH) traded up 0.86% on Friday, hitting $38.54. The company had a trading volume of 798,083 shares. The firm has a market capitalization of $2.71 billion, a PE ratio of 24.24 and a beta of 0.54. The firm has a 50-day moving average price of $41.79 and a 200-day moving average price of $44.04. Texas Roadhouse Inc. has a 12-month low of $33.06 and a 12-month high of $49.00.
Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The business had revenue of $509 million for the quarter, compared to analysts’ expectations of $509.80 million. During the same quarter in the prior year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Texas Roadhouse Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 48.10%.
Several equities analysts have commented on TXRH shares. KeyCorp reiterated a “buy” rating and set a $50.00 price target on shares of Texas Roadhouse in a report on Tuesday, August 16th. Jefferies Group downgraded Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 price target on the stock. in a report on Tuesday, July 26th. Zacks Investment Research upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Saturday, July 30th. Stifel Nicolaus downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and lowered their price target for the company from $50.00 to $47.00 in a report on Tuesday, July 26th. Finally, Telsey Advisory Group downgraded Texas Roadhouse from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a report on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. Texas Roadhouse currently has a consensus rating of “Hold” and a consensus target price of $43.78.
In other Texas Roadhouse news, CEO Wayne Kent Taylor sold 150,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total value of $6,904,500.00. Following the transaction, the chief executive officer now directly owns 4,363,261 shares of the company’s stock, valued at approximately $200,840,903.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Zarley acquired 23,800 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the acquisition, the director now owns 104,000 shares in the company, valued at $4,391,920. The disclosure for this purchase can be found here. 7.40% of the stock is owned by corporate insiders.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.