M&T Bank Corp Has $654,000 Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

M&T Bank Corp boosted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,351 shares of the restaurant operator’s stock after acquiring an additional 264 shares during the quarter. M&T Bank Corp’s holdings in Texas Roadhouse were worth $654,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Texas Roadhouse by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 6,556 shares of the restaurant operator’s stock valued at $630,000 after purchasing an additional 203 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Texas Roadhouse by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,607 shares of the restaurant operator’s stock valued at $1,404,000 after acquiring an additional 1,977 shares in the last quarter. Advisor Partners II LLC purchased a new position in Texas Roadhouse during the 3rd quarter worth $213,000. Park Avenue Securities LLC bought a new stake in shares of Texas Roadhouse in the 3rd quarter worth $474,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Texas Roadhouse by 1,811.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,345 shares of the restaurant operator’s stock worth $5,991,000 after acquiring an additional 59,083 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Activity

In related news, insider Christopher C. Colson sold 405 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at $1,266,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the transaction, the president now directly owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher C. Colson sold 405 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares of the company’s stock, valued at approximately $1,266,925. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,407 shares of company stock worth $2,013,111. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Benchmark initiated coverage on shares of Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating on the stock. UBS Group upped their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a report on Friday, February 16th. Jefferies Financial Group lifted their price target on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Finally, Citigroup raised their target price on Texas Roadhouse from $178.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $155.55.

Texas Roadhouse Trading Down 1.0 %

Texas Roadhouse stock opened at $165.52 on Tuesday. The firm’s 50 day simple moving average is $154.54 and its 200 day simple moving average is $133.00. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $170.39. The firm has a market capitalization of $11.06 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Research analysts forecast that Texas Roadhouse, Inc. will post 5.96 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, March 12th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

About Texas Roadhouse

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.