Raymond James Trust N.A. Purchases 2,397 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Raymond James Trust N.A. grew its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 109.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,587 shares of the restaurant operator’s stock after purchasing an additional 2,397 shares during the quarter. Raymond James Trust N.A.’s holdings in Texas Roadhouse were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TXRH. Bridgefront Capital LLC bought a new position in Texas Roadhouse in the fourth quarter valued at approximately $736,000. Ontario Teachers Pension Plan Board bought a new position in shares of Texas Roadhouse in the 1st quarter worth $2,338,000. Bank of Nova Scotia grew its stake in shares of Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after purchasing an additional 218,287 shares during the period. Los Angeles Capital Management LLC increased its holdings in Texas Roadhouse by 158.3% in the first quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock valued at $3,477,000 after purchasing an additional 13,795 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Texas Roadhouse in the first quarter valued at about $4,522,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TXRH shares. Royal Bank of Canada boosted their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company a “sector perform” rating in a report on Friday, June 7th. Wells Fargo & Company upped their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Evercore ISI lifted their target price on Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus increased their price target on Texas Roadhouse from $155.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Finally, Citigroup raised their price target on Texas Roadhouse from $178.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.85.

Texas Roadhouse Stock Up 0.4 %

Shares of TXRH traded up $0.70 during mid-day trading on Monday, hitting $169.29. 41,607 shares of the company’s stock were exchanged, compared to its average volume of 788,739. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $177.72. The stock’s 50-day simple moving average is $169.39 and its 200-day simple moving average is $160.90. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. Analysts forecast that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.44%. Texas Roadhouse’s payout ratio is 49.39%.

Insider Activity

In related news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the sale, the chief executive officer now owns 77,847 shares in the company, valued at approximately $13,366,329.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Company 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.