Trust Point Inc. Buys 1,304 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Trust Point Inc. boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 63.9% in the 4th quarter, HoldingsChannel reports. The fund owned 3,345 shares of the restaurant operator’s stock after buying an additional 1,304 shares during the quarter. Trust Point Inc.’s holdings in Texas Roadhouse were worth $604,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its holdings in Texas Roadhouse by 81.6% in the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after acquiring an additional 403,720 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Texas Roadhouse by 76.0% during the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock valued at $157,375,000 after acquiring an additional 385,998 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Texas Roadhouse in the third quarter worth $66,609,000. Fiera Capital Corp bought a new stake in Texas Roadhouse in the third quarter valued at $41,670,000. Finally, Bank of Montreal Can increased its position in Texas Roadhouse by 2,216.1% during the 3rd quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock valued at $30,831,000 after purchasing an additional 168,669 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Down 0.8 %

Shares of TXRH stock opened at $182.02 on Wednesday. The company has a 50 day moving average price of $185.64 and a 200-day moving average price of $179.81. Texas Roadhouse, Inc. has a 52 week low of $126.93 and a 52 week high of $206.04. The firm has a market capitalization of $12.14 billion, a PE ratio of 31.27, a P/E/G ratio of 1.30 and a beta of 1.02.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a yield of 1.34%. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TXRH shares. Bank of America raised their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial upped their target price on Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Barclays upped their price target 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. Finally, Evercore ISI increased their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and a consensus target price of $191.26.

Insider Activity

In other news, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares of the company’s stock, valued at $1,794,600. This represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the transaction, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,480 shares of company stock valued at $668,603 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.