Picton Mahoney Asset Management Has $388,000 Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Picton Mahoney Asset Management increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 58.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,155 shares of the restaurant operator’s stock after purchasing an additional 795 shares during the quarter. Picton Mahoney Asset Management’s holdings in Texas Roadhouse were worth $388,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Texas Roadhouse by 2.0% during the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock worth $350,171,000 after buying an additional 38,723 shares in the last quarter. Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock worth $212,261,000 after purchasing an additional 18,126 shares in the last quarter. Barclays PLC boosted its stake in Texas Roadhouse by 14.4% in the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock worth $208,539,000 after purchasing an additional 148,462 shares in the last quarter. FMR LLC grew its holdings in shares of Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after purchasing an additional 403,720 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock valued at $157,375,000 after buying an additional 385,998 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $172.49 on Monday. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04. The company has a market capitalization of $11.46 billion, a P/E ratio of 26.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The business has a 50-day moving average of $177.89 and a two-hundred day moving average of $181.27.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. On average, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

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

Insider Buying and Selling at Texas Roadhouse

In other news, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 directly owns 10,000 shares of the company’s stock, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the sale, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock valued at $3,198,367 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXRH. Truist Financial reduced their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada reduced 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 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 for the company in a report on Friday, February 21st. Wedbush reduced their price objective on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Finally, Guggenheim lowered their target price on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average target price 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.