M&T Bank Corp Sells 673 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

M&T Bank Corp trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,101 shares of the restaurant operator’s stock after selling 673 shares during the quarter. M&T Bank Corp’s holdings in Texas Roadhouse were worth $548,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its position in Texas Roadhouse by 60.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,425 shares of the restaurant operator’s stock valued at $760,000 after buying an additional 1,670 shares during the period. Raymond James & Associates boosted its holdings in shares of Texas Roadhouse by 4.6% in the second quarter. Raymond James & Associates now owns 70,827 shares of the restaurant operator’s stock valued at $12,162,000 after purchasing an additional 3,120 shares during the period. Fifth Third Bancorp grew its stake in Texas Roadhouse by 40.7% in the second quarter. Fifth Third Bancorp now owns 608 shares of the restaurant operator’s stock worth $104,000 after purchasing an additional 176 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Texas Roadhouse during the 2nd quarter worth $400,000. Finally, Raymond James Trust N.A. raised its position in Texas Roadhouse by 109.5% during the 2nd quarter. Raymond James Trust N.A. now owns 4,587 shares of the restaurant operator’s stock valued at $788,000 after purchasing an additional 2,397 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TXRH shares. Morgan Stanley raised their price target on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price target on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America increased their price objective on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on shares of Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Evercore ISI increased their target price on Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $190.09.

Insiders Place Their Bets

In other news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the completion of the transaction, the chief technology officer now owns 16,342 shares of the company’s stock, valued at $3,305,332.92. The trade was a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donna E. Epps sold 610 shares of the firm’s 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 $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Trading Down 0.3 %

NASDAQ:TXRH opened at $186.92 on Wednesday. The company has a market capitalization of $12.47 billion, a P/E ratio of 32.12, a PEG ratio of 1.59 and a beta of 0.98. Texas Roadhouse, Inc. has a 12 month low of $115.48 and a 12 month high of $206.04. The firm has a fifty day simple moving average of $191.12 and a 200-day simple moving average of $177.18.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly 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 analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. Equities analysts forecast that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.61 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 annualized dividend and a yield of 1.31%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.92%.

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.