Chase Investment Counsel Corp Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Chase Investment Counsel Corp purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,753 shares of the restaurant operator’s stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TXRH. FMR LLC raised its holdings in shares of Texas Roadhouse by 81.6% during the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after purchasing an additional 403,720 shares in the last quarter. Franklin Resources Inc. raised its holdings in Texas Roadhouse by 76.0% in the 3rd 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. Erste Asset Management GmbH bought a new position in Texas Roadhouse in the 3rd quarter worth $66,609,000. Fiera Capital Corp bought a new position in Texas Roadhouse in the 3rd quarter worth $41,670,000. Finally, Bank of Montreal Can raised its holdings in Texas Roadhouse by 2,216.1% in the 3rd quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock worth $30,831,000 after acquiring an additional 168,669 shares during the period. Institutional investors own 94.82% of the company’s stock.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 2,700 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $168.26, for a total value of $454,302.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Curtis Warfield sold 4,190 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the completion of the transaction, the director now directly owns 10,082 shares of the company’s stock, valued at approximately $1,802,661.60. This represents a 29.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,470 shares of company stock valued at $2,010,238. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

TXRH has been the topic of several recent analyst reports. Wedbush dropped their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Truist Financial dropped 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. Stephens dropped their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Citigroup boosted their price objective on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.73.

Texas Roadhouse Stock Up 3.5 %

NASDAQ:TXRH opened at $184.09 on Friday. The firm has a market cap of $12.28 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The company’s 50-day moving average price is $178.56 and its two-hundred day moving average price is $180.42.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, March 18th. This is an increase 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 1.48%. Texas Roadhouse’s payout ratio is currently 42.04%.

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.