Fulton Bank N.A. Increases Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Fulton Bank N.A. grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRHFree Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,225 shares of the restaurant operator’s stock after purchasing an additional 272 shares during the quarter. Fulton Bank N.A.’s holdings in Texas Roadhouse were worth $1,116,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Texas Roadhouse in the 1st quarter worth about $32,000. Operose Advisors LLC bought a new position in Texas Roadhouse in the 3rd quarter worth about $28,000. TFC Financial Management Inc. boosted its stake in Texas Roadhouse by 100.0% in the 4th quarter. TFC Financial Management Inc. now owns 580 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 290 shares during the period. Benjamin F. Edwards & Company Inc. bought a new position in Texas Roadhouse in the 4th quarter worth about $81,000. Finally, GAMMA Investing LLC bought a new position in Texas Roadhouse in the 4th quarter worth about $88,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH traded down $0.67 during midday trading on Thursday, reaching $169.36. 1,062,384 shares of the company’s stock traded hands, compared to its average volume of 787,369. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 34.28, a P/E/G ratio of 1.65 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $174.05. The stock has a 50 day moving average of $164.46 and a 200 day moving average of $144.70.

Texas Roadhouse (NASDAQ:TXRHGet Free Report) last posted its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $1.28 earnings per share. Texas Roadhouse’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts predict that Texas Roadhouse, Inc. will post 6.02 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Analyst Ratings Changes

TXRH has been the topic of several recent analyst reports. Truist Financial raised their price target on Texas Roadhouse from $170.00 to $181.00 and gave the company a “buy” rating in a report on Friday, May 3rd. BTIG Research raised their price target on Texas Roadhouse from $155.00 to $175.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Robert W. Baird raised their price target on Texas Roadhouse from $178.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Benchmark initiated coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They issued a “hold” rating for the company. Finally, Stephens boosted their target price on Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $157.77.

Get Our Latest Research Report on TXRH

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Hernan E. Mujica sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $168.60, for a total value of $505,800.00. Following the completion of the sale, the chief technology officer now directly owns 17,842 shares of the company’s stock, valued at approximately $3,008,161.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The disclosure for this sale can be found here. Insiders sold 19,025 shares of company stock worth $3,251,266 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Texas Roadhouse (NASDAQ:TXRH)

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