PNC Financial Services Group Inc. Sells 740 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

PNC Financial Services Group Inc. trimmed its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 49,253 shares of the restaurant operator’s stock after selling 740 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Texas Roadhouse were worth $8,887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Banco Santander S.A. bought a new stake in shares of Texas Roadhouse during the 4th quarter valued at $6,871,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Texas Roadhouse by 13.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 55,711 shares of the restaurant operator’s stock valued at $10,130,000 after acquiring an additional 6,814 shares during the period. Machina Capital S.A.S. lifted its position in shares of Texas Roadhouse by 67.4% during the 4th quarter. Machina Capital S.A.S. now owns 2,632 shares of the restaurant operator’s stock valued at $475,000 after acquiring an additional 1,060 shares during the period. Edgestream Partners L.P. lifted its position in shares of Texas Roadhouse by 334.7% during the 4th quarter. Edgestream Partners L.P. now owns 48,013 shares of the restaurant operator’s stock valued at $8,663,000 after acquiring an additional 36,968 shares during the period. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Texas Roadhouse during the 4th quarter valued at $573,000. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Down 0.7 %

Shares of TXRH stock opened at $177.12 on Wednesday. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.23 and a beta of 1.00. The stock has a 50-day moving average of $178.46 and a 200-day moving average of $181.20. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.54%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

Insider Buying and Selling

In related news, Director Curtis Warfield sold 3,281 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total transaction of $602,621.27. Following the completion of the sale, the director now owns 6,801 shares of the company’s stock, valued at $1,249,139.67. This trade represents a 32.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory N. Moore sold 2,700 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $168.26, for a total value of $454,302.00. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock valued at $3,198,367 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their price objective on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Guggenheim dropped their price objective on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Stephens dropped their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Finally, Citigroup upped their price objective on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.73.

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.