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Bank of America Corp DE Purchases 114,951 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Defense World · Sep 23, 2022 05:01

Bank of America Corp DE boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Rating) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,873,382 shares of the restaurant operator's stock after purchasing an additional 114,951 shares during the quarter. Bank of America Corp DE owned approximately 2.75% of Texas Roadhouse worth $156,859,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Walleye Capital LLC bought a new position in shares of Texas Roadhouse during the first quarter valued at $435,000. BNP Paribas Arbitrage SA increased its holdings in shares of Texas Roadhouse by 28.1% during the first quarter. BNP Paribas Arbitrage SA now owns 31,695 shares of the restaurant operator's stock valued at $2,654,000 after acquiring an additional 6,954 shares in the last quarter. Absoluto Partners Gestao de Recursos Ltda bought a new position in shares of Texas Roadhouse during the first quarter valued at $3,253,000. Polar Asset Management Partners Inc. bought a new position in shares of Texas Roadhouse during the first quarter valued at $5,786,000. Finally, Quantamental Technologies LLC bought a new position in shares of Texas Roadhouse during the first quarter valued at $773,000. Institutional investors own 97.80% of the company's stock.

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Texas Roadhouse Stock Down 3.4 %

TXRH stock opened at $86.42 on Friday. Texas Roadhouse, Inc. has a twelve month low of $68.58 and a twelve month high of $97.43. The company has a quick ratio of 0.47, a current ratio of 0.53 and a debt-to-equity ratio of 0.08. The stock has a market cap of $5.89 billion, a P/E ratio of 23.61, a PEG ratio of 1.70 and a beta of 0.97. The business's 50-day moving average price is $88.88 and its 200-day moving average price is $82.47.

Texas Roadhouse (NASDAQ:TXRH – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The restaurant operator reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.04. Texas Roadhouse had a return on equity of 24.45% and a net margin of 6.71%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business's quarterly revenue was up 14.0% on a year-over-year basis. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 3.83 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be issued a $0.46 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $1.84 dividend on an annualized basis and a yield of 2.13%. Texas Roadhouse's dividend payout ratio is presently 50.27%.

Insider Buying and Selling

In related news, General Counsel Christopher C. Colson sold 1,357 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $94.36, for a total value of $128,046.52. Following the transaction, the general counsel now directly owns 3,000 shares of the company's stock, valued at approximately $283,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Christopher C. Colson sold 1,357 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $94.36, for a total value of $128,046.52. Following the transaction, the general counsel now directly owns 3,000 shares of the company's stock, valued at approximately $283,080. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gerald L. Morgan sold 4,665 shares of the business's stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $95.08, for a total value of $443,548.20. Following the completion of the transaction, the chief executive officer now directly owns 81,547 shares in the company, valued at $7,753,488.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,922 shares of company stock valued at $1,739,455. Corporate insiders own 4.99% of the company's stock.

Wall Street Analysts Forecast Growth

TXRH has been the subject of several analyst reports. Stephens initiated coverage on Texas Roadhouse in a report on Thursday. They set an "equal weight" rating for the company. Bank of America started coverage on Texas Roadhouse in a report on Monday, June 27th. They issued a "buy" rating and a $96.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Texas Roadhouse from $91.00 to $97.00 in a report on Friday, July 29th. UBS Group reduced their price objective on Texas Roadhouse from $108.00 to $104.00 in a report on Tuesday, July 26th. Finally, MKM Partners reduced their price objective on Texas Roadhouse from $115.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, May 26th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus target price of $102.05.

About Texas Roadhouse

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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.