M&T Bank Corp Takes $52,000 Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

M&T Bank Corp purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRHGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,964 shares of the restaurant operator’s stock, valued at approximately $52,000.

Several other hedge funds also recently made changes to their positions in TXRH. HM Payson & Co. purchased a new position in shares of Texas Roadhouse in the first quarter valued at $25,000. TCI Wealth Advisors Inc. grew its position in shares of Texas Roadhouse by 319.5% in the second quarter. TCI Wealth Advisors Inc. now owns 344 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Texas Roadhouse by 96.6% in the second quarter. First Horizon Advisors Inc. now owns 405 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 199 shares in the last quarter. CENTRAL TRUST Co grew its position in shares of Texas Roadhouse by 92.7% in the first quarter. CENTRAL TRUST Co now owns 578 shares of the restaurant operator’s stock valued at $48,000 after purchasing an additional 278 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in Texas Roadhouse during the second quarter valued at $85,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $98.31, for a total transaction of $98,310.00. Following the completion of the sale, the director now directly owns 54,850 shares in the company, valued at approximately $5,392,303.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.99% of the stock is currently owned by company insiders.

Texas Roadhouse Trading Down 0.5 %

Shares of TXRH stock opened at $97.97 on Friday. The stock has a market capitalization of $6.56 billion, a PE ratio of 25.51, a P/E/G ratio of 1.75 and a beta of 0.95. Texas Roadhouse, Inc. has a 1-year low of $68.58 and a 1-year high of $101.75. The business has a 50-day moving average of $93.39 and a 200 day moving average of $85.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.54 and a quick ratio of 0.47.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, December 7th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, December 6th. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Credit Suisse Group upped their target price on Texas Roadhouse to $121.00 in a research note on Tuesday, November 1st. Stephens decreased their target price on Texas Roadhouse from $90.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Friday, October 28th. Deutsche Bank Aktiengesellschaft lowered Texas Roadhouse from a “buy” rating to a “hold” rating and upped their target price for the stock from $100.00 to $101.00 in a research note on Monday, October 31st. They noted that the move was a valuation call. Truist Financial upped their target price on Texas Roadhouse from $108.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. Finally, Wedbush upped their target price on Texas Roadhouse from $98.00 to $111.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.11.

Texas Roadhouse Profile

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Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants.

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

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