M&T Bank Corp Sells 673 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

M&T Bank Corp lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the restaurant operator’s stock after selling 673 shares during the period. M&T Bank Corp’s holdings in Texas Roadhouse were worth $548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $25,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Texas Roadhouse by 4,175.0% in the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after buying an additional 167 shares during the last quarter. True Wealth Design LLC bought a new stake in Texas Roadhouse during the third quarter valued at approximately $30,000. PSI Advisors LLC increased its holdings in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 75 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Texas Roadhouse by 118.6% in the third quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock worth $46,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $186.92 on Wednesday. Texas Roadhouse, Inc. has a fifty-two week low of $115.48 and a fifty-two week high of $206.04. The company’s fifty day moving average is $191.12 and its 200 day moving average is $177.18. The stock has a market capitalization of $12.47 billion, a PE ratio of 32.12, a P/E/G ratio of 1.59 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last announced 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 net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s payout ratio is 41.92%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TXRH shares. Barclays upped their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on Texas Roadhouse in a research report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target for the company. BMO Capital Markets boosted their price objective on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Guggenheim raised their target price on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, UBS Group lifted their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, October 25th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse has an average rating of “Hold” and a consensus target price of $190.09.

Insider Activity

In other news, Director Donna E. Epps sold 610 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following 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 represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse 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.