Raymond James Trust N.A. Lowers Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Raymond James Trust N.A. lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,999 shares of the restaurant operator’s stock after selling 588 shares during the period. Raymond James Trust N.A.’s holdings in Texas Roadhouse were worth $706,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new stake in shares of Texas Roadhouse during the 3rd quarter worth $17,853,000. Portfolio Design Labs LLC purchased a new stake in Texas Roadhouse during the third quarter valued at about $1,595,000. First Horizon Advisors Inc. increased its stake in Texas Roadhouse by 158.1% during the third quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 185 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Texas Roadhouse by 29.1% in the 3rd quarter. Jennison Associates LLC now owns 622,561 shares of the restaurant operator’s stock worth $109,944,000 after purchasing an additional 140,439 shares during the period. Finally, Commerce Bank raised its holdings in shares of Texas Roadhouse by 2.5% in the 3rd quarter. Commerce Bank now owns 6,388 shares of the restaurant operator’s stock worth $1,128,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $202.12 on Tuesday. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 1.66 and a beta of 0.98. Texas Roadhouse, Inc. has a one year low of $110.88 and a one year high of $203.32. The company’s 50-day simple moving average is $184.27 and its 200-day simple moving average is $174.14.

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

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.21%. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TXRH shares. Loop Capital dropped their target price on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Citigroup raised their target price on shares of Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Barclays upped their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Bank of America raised their price objective on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wedbush upped their target price on Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $189.00.

Insider Transactions at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total transaction of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 16,342 shares of the company’s stock, valued at $3,305,332.92. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 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.