Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,820 shares of the restaurant operator’s stock after selling 444 shares during the quarter. Bank of Nova Scotia’s holdings in Texas Roadhouse were worth $29,378,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Texas Roadhouse in the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB raised its stake in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after acquiring an additional 65 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new position in Texas Roadhouse in the 4th quarter worth $64,000. Finally, Asset Planning Inc purchased a new position in Texas Roadhouse in the 4th quarter worth $74,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 8.3 %

Shares of NASDAQ TXRH opened at $166.00 on Thursday. Texas Roadhouse, Inc. has a twelve month low of $146.75 and a twelve month high of $206.04. The stock has a 50 day moving average of $172.79 and a two-hundred day moving average of $181.29. The stock has a market cap of $11.03 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.68 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.64%. Texas Roadhouse’s dividend payout ratio is 42.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada reduced their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Stephens reduced their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, Citigroup lifted their price target on Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.23.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,050 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $170.66, for a total value of $349,853.00. Following the sale, the chief technology officer now owns 17,162 shares of the company’s stock, valued at approximately $2,928,866.92. This represents a 10.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Curtis Warfield sold 3,281 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the completion of the sale, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,905 shares of company stock valued at $3,198,367. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Company 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.