Huntington National Bank Boosts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Huntington National Bank increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 34.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 566 shares of the restaurant operator’s stock after purchasing an additional 145 shares during the quarter. Huntington National Bank’s holdings in Texas Roadhouse were worth $100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Texas Roadhouse by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after buying an additional 53,419 shares in the last quarter. SG Americas Securities LLC grew its stake in Texas Roadhouse by 200.6% during the second quarter. SG Americas Securities LLC now owns 19,067 shares of the restaurant operator’s stock valued at $3,274,000 after acquiring an additional 12,725 shares in the last quarter. Bessemer Group Inc. increased its holdings in Texas Roadhouse by 71.1% during the 1st quarter. Bessemer Group Inc. now owns 95,623 shares of the restaurant operator’s stock worth $14,771,000 after acquiring an additional 39,731 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Texas Roadhouse by 320.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,940 shares of the restaurant operator’s stock worth $2,050,000 after purchasing an additional 9,097 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Texas Roadhouse by 1,042.2% in the 3rd quarter. Assetmark Inc. now owns 9,709 shares of the restaurant operator’s stock valued at $1,715,000 after purchasing an additional 8,859 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the sale, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TXRH shares. Truist Financial increased their price objective on Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI lifted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Citigroup boosted their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus raised their target price on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $189.00.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $197.99 on Monday. The stock’s 50-day moving average is $180.28 and its 200 day moving average is $172.72. The company has a market cap of $13.21 billion, a PE ratio of 34.02, a P/E/G ratio of 1.69 and a beta of 0.98. Texas Roadhouse, Inc. has a 1 year low of $109.13 and a 1 year high of $203.32.

Texas Roadhouse (NASDAQ:TXRH) last announced 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 business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. Texas Roadhouse’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 EPS. Analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

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.