PNC Financial Services Group Inc. Reduces Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

PNC Financial Services Group Inc. lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,646 shares of the restaurant operator’s stock after selling 3,101 shares during the quarter. PNC Financial Services Group Inc. owned 0.09% of Texas Roadhouse worth $7,535,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Texas Roadhouse by 1.7% in the third quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator’s stock valued at $173,694,000 after buying an additional 29,506 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Texas Roadhouse by 0.5% in the third quarter. JPMorgan Chase & Co. now owns 1,611,543 shares of the restaurant operator’s stock valued at $154,869,000 after buying an additional 8,392 shares in the last quarter. Invesco Ltd. increased its position in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after buying an additional 370,627 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Texas Roadhouse by 26.3% in the third quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after buying an additional 205,064 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position in shares of Texas Roadhouse by 7.9% in the fourth quarter. Geneva Capital Management LLC now owns 948,219 shares of the restaurant operator’s stock valued at $115,901,000 after buying an additional 69,536 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Texas Roadhouse news, CTO Hernan E. Mujica sold 878 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $149.61, for a total transaction of $131,357.58. Following the sale, the chief technology officer now directly owns 22,361 shares in the company, valued at approximately $3,345,429.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,637 shares of company stock worth $2,106,917. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $166.37 on Friday. The company has a market cap of $11.11 billion, a P/E ratio of 33.68, a PEG ratio of 1.64 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $170.76. The business’s 50-day simple moving average is $157.28 and its 200 day simple moving average is $136.27.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, beating the consensus estimate of $1.65 by $0.04. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. Analysts predict that Texas Roadhouse, Inc. will post 5.96 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.47%. Texas Roadhouse’s payout ratio is currently 49.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TXRH shares. Stephens increased their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Piper Sandler increased their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Morgan Stanley increased their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. BMO Capital Markets increased their price objective on Texas Roadhouse from $130.00 to $145.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus increased their price objective on Texas Roadhouse from $155.00 to $175.00 and gave the company a “hold” rating in a research note on Monday, May 6th. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $155.55.

About Texas Roadhouse

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.