Central Pacific Bank Trust Division Purchases Shares of 1,180 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Central Pacific Bank Trust Division purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,180 shares of the restaurant operator’s stock, valued at approximately $183,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXRH. Norges Bank bought a new position in shares of Texas Roadhouse in the 4th quarter worth approximately $78,544,000. Balyasny Asset Management L.P. raised its position in shares of Texas Roadhouse by 4,150.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after acquiring an additional 441,069 shares in the last quarter. Armistice Capital LLC bought a new position in shares of Texas Roadhouse in the 4th quarter worth approximately $28,724,000. Bank of Nova Scotia raised its position in shares of Texas Roadhouse by 5,135.0% in the 4th quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after acquiring an additional 218,287 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Texas Roadhouse by 2,985.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock worth $25,481,000 after acquiring an additional 201,714 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH stock traded down $0.57 on Wednesday, reaching $165.95. The stock had a trading volume of 99,923 shares, compared to its average volume of 790,046. The stock has a market cap of $11.08 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $175.72. The company has a 50 day simple moving average of $168.57 and a 200 day simple moving average of $149.71.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.02 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were issued a $0.61 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a yield of 1.47%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Analyst Upgrades and Downgrades

TXRH has been the topic of several recent research reports. Jefferies Financial Group upped their price target on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Stephens upped their price target on Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Evercore ISI upped their price target on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets upped their price target on Texas Roadhouse from $130.00 to $145.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird upped their price target on Texas Roadhouse from $178.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $157.95.

Insider Buying and Selling

In related news, Director Curtis Warfield sold 1,025 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Curtis Warfield sold 1,025 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at approximately $2,051,525.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares in the company, valued at $13,366,329.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,025 shares of company stock valued at $3,251,266. 0.50% of the stock is owned by company insiders.

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.