Pictet Asset Management Holding SA Increases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Pictet Asset Management Holding SA lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,613 shares of the restaurant operator’s stock after purchasing an additional 1,098 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Texas Roadhouse were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Texas Roadhouse by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator’s stock worth $1,180,123,000 after purchasing an additional 76,051 shares in the last quarter. State Street Corp raised its holdings in Texas Roadhouse by 2.0% during the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock valued at $350,171,000 after acquiring an additional 38,723 shares during the period. Geode Capital Management LLC raised its holdings in Texas Roadhouse by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock valued at $212,261,000 after acquiring an additional 18,126 shares during the period. Barclays PLC lifted its position in shares of Texas Roadhouse by 14.4% in the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock valued at $208,539,000 after acquiring an additional 148,462 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after acquiring an additional 385,998 shares during the period. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $159.86 on Friday. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The stock has a market cap of $10.62 billion, a PE ratio of 24.71, a P/E/G ratio of 1.23 and a beta of 1.00. The stock has a 50 day moving average price of $175.08 and a 200 day moving average price of $181.66.

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

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.68 per share. The ex-dividend date was Tuesday, March 18th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.70%. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 580 shares of Texas Roadhouse stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the completion of the sale, the insider now owns 12,000 shares in the company, valued at approximately $2,183,280. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction 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. In the last ninety days, insiders have sold 17,905 shares of company stock worth $3,198,367. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TXRH shares. Barclays reduced their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada reduced their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Gordon Haskett lowered shares of 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. Finally, Truist Financial reduced their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $193.36.

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.