Bank of Montreal Can Grows Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bank of Montreal Can increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2,216.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 176,280 shares of the restaurant operator’s stock after purchasing an additional 168,669 shares during the quarter. Bank of Montreal Can owned approximately 0.26% of Texas Roadhouse worth $30,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in shares of Texas Roadhouse in the 2nd quarter valued at approximately $25,000. McClarren Financial Advisors Inc. increased its position in Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. PSI Advisors LLC increased its position in Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 75 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Texas Roadhouse by 118.6% during the 3rd quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TXRH shares. Loop Capital reduced their price objective on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Morgan Stanley raised their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Bank of America raised their price objective on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup raised their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada raised their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $189.00.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $203.36 on Friday. The stock has a 50-day simple moving average of $186.48 and a two-hundred day simple moving average of $174.81. Texas Roadhouse, Inc. has a 52-week low of $110.88 and a 52-week high of $205.85. The firm has a market capitalization of $13.57 billion, a PE ratio of 34.94, a P/E/G ratio of 1.72 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly 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 net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts forecast that Texas Roadhouse, Inc. will post 6.39 earnings per share 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. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction dated 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 $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’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 directly owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.