Bank of New York Mellon Corp Reduces Position in Texas Roadhouse Inc (TXRH)
Bank of New York Mellon Corp lessened its holdings in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,052,348 shares of the restaurant operator’s stock after selling 66,797 shares during the period. Bank of New York Mellon Corp’s holdings in Texas Roadhouse were worth $62,824,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in Texas Roadhouse during the 3rd quarter valued at approximately $4,036,000. Cambridge Investment Research Advisors Inc. bought a new position in Texas Roadhouse during the 3rd quarter valued at approximately $853,000. American Century Companies Inc. raised its position in Texas Roadhouse by 16.9% during the 3rd quarter. American Century Companies Inc. now owns 145,629 shares of the restaurant operator’s stock valued at $10,091,000 after purchasing an additional 21,063 shares during the last quarter. Stone Ridge Asset Management LLC raised its position in Texas Roadhouse by 22.8% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 14,567 shares of the restaurant operator’s stock valued at $1,009,000 after purchasing an additional 2,703 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Texas Roadhouse by 12.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,111,471 shares of the restaurant operator’s stock valued at $77,014,000 after purchasing an additional 126,398 shares during the last quarter. 88.92% of the stock is owned by institutional investors.
In other Texas Roadhouse news, President Scott Matthew Colosi sold 6,741 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $63.22, for a total transaction of $426,166.02. Following the transaction, the president now owns 68,202 shares in the company, valued at approximately $4,311,730.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.89% of the stock is currently owned by corporate insiders.
Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Tuesday, February 19th. The restaurant operator reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Texas Roadhouse had a return on equity of 17.06% and a net margin of 6.44%. The firm had revenue of $605.91 million for the quarter, compared to the consensus estimate of $599.06 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, sell-side analysts expect that Texas Roadhouse Inc will post 2.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Wednesday, March 13th will be issued a dividend of $0.30 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, March 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. Texas Roadhouse’s dividend payout ratio is 54.55%.
A number of research analysts have commented on TXRH shares. BidaskClub lowered Texas Roadhouse from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Tuesday, February 19th. Goldman Sachs Group raised Texas Roadhouse from a “neutral” rating to a “buy” rating and upped their price target for the company from $64.00 to $72.00 in a research report on Friday, January 11th. Stifel Nicolaus lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research report on Tuesday, January 22nd. Finally, Wedbush reaffirmed a “hold” rating and set a $62.00 price target on shares of Texas Roadhouse in a research report on Monday, February 11th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.71.
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Texas Roadhouse Profile
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 19, 2019, it owned and operated approximately 580 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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