Massachusetts Financial Services Co. MA Sells 12,767 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Massachusetts Financial Services Co. MA decreased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 587,424 shares of the restaurant operator’s stock after selling 12,767 shares during the period. Massachusetts Financial Services Co. MA owned about 0.84% of Texas Roadhouse worth $56,358,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Texas Roadhouse by 0.5% in the first quarter. Arizona State Retirement System now owns 19,215 shares of the restaurant operator’s stock worth $1,843,000 after purchasing an additional 97 shares during the last quarter. JJJ Advisors Inc. grew its holdings in shares of Texas Roadhouse by 37.8% in the first quarter. JJJ Advisors Inc. now owns 405 shares of the restaurant operator’s stock worth $39,000 after purchasing an additional 111 shares during the last quarter. Commerce Bank grew its holdings in shares of Texas Roadhouse by 1.5% in the first quarter. Commerce Bank now owns 12,335 shares of the restaurant operator’s stock worth $1,183,000 after purchasing an additional 185 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Texas Roadhouse by 165.8% in the first quarter. Fifth Third Bancorp now owns 311 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 194 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Texas Roadhouse by 0.9% in the first quarter. Comerica Bank now owns 30,615 shares of the restaurant operator’s stock worth $3,072,000 after purchasing an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Texas Roadhouse from $99.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, May 7th. Wedbush lifted their price target on shares of Texas Roadhouse from $110.00 to $122.00 and gave the company an “outperform” rating in a report on Friday, April 30th. TheStreet upgraded shares of Texas Roadhouse from a “c” rating to a “b” rating in a report on Thursday, April 29th. Morgan Stanley lifted their price target on shares of Texas Roadhouse from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, April 30th. Finally, BTIG Research lifted their price target on shares of Texas Roadhouse from $92.00 to $109.00 and gave the company a “buy” rating in a report on Monday, March 22nd. Thirteen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $100.04.

NASDAQ TXRH opened at $93.45 on Thursday. The stock has a 50-day simple moving average of $98.89. The company has a market cap of $6.52 billion, a P/E ratio of 82.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.11. Texas Roadhouse, Inc. has a one year low of $46.84 and a one year high of $110.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 1.09.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, April 29th. The restaurant operator reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.32. The business had revenue of $800.63 million during the quarter, compared to the consensus estimate of $744.86 million. Texas Roadhouse had a return on equity of 8.46% and a net margin of 3.12%. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 3.45 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 4th. Shareholders of record on Wednesday, May 19th were paid a dividend of $0.40 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Tuesday, May 18th. Texas Roadhouse’s payout ratio is currently 355.56%.

In related news, Director James R. Zarley sold 1,879 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $105.01, for a total transaction of $197,313.79. Following the completion of the transaction, the director now directly owns 106,164 shares in the company, valued at approximately $11,148,281.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO S. Chris Jacobsen sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $106.04, for a total value of $455,972.00. Following the transaction, the chief marketing officer now owns 13,481 shares of the company’s stock, valued at $1,429,525.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,438 shares of company stock valued at $680,230. Corporate insiders own 4.99% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of December 29, 2020, it operated 537 domestic restaurants and 97 franchise restaurants.

Further Reading: What does an equal weight rating mean?

Institutional Ownership by Quarter for Texas Roadhouse (NASDAQ:TXRH)

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