PNC Financial Services Group Inc. Cuts Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

PNC Financial Services Group Inc. trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 49,993 shares of the restaurant operator’s stock after selling 994 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of Texas Roadhouse worth $8,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its stake in Texas Roadhouse by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 62 shares during the last quarter. PSI Advisors LLC raised its position in shares of Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in Texas Roadhouse by 5.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock worth $259,000 after purchasing an additional 75 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Texas Roadhouse by 12.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock valued at $128,000 after purchasing an additional 85 shares during the last quarter. Finally, Gries Financial LLC increased its stake in Texas Roadhouse by 6.5% during the 2nd quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 114 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TXRH shares. Wedbush upped their target price on shares of Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Bank of America increased their target price on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI boosted their price target on Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Stephens increased their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, BTIG Research lifted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $194.90 on Friday. The stock has a 50-day simple moving average of $182.88 and a two-hundred day simple moving average of $173.59. The firm has a market capitalization of $13.00 billion, a PE ratio of 33.49, a P/E/G ratio of 1.65 and a beta of 0.98. Texas Roadhouse, Inc. has a 52-week low of $110.88 and a 52-week high of $203.32.

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

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Insider Buying and Selling

In other news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction 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 approximately $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the transaction, the director now directly owns 3,532 shares of the company’s stock, valued at $691,071.12. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

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.