Moran Wealth Management LLC Trims Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Moran Wealth Management LLC decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,393 shares of the restaurant operator’s stock after selling 1,577 shares during the quarter. Moran Wealth Management LLC owned approximately 0.08% of Texas Roadhouse worth $9,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its position in shares of Texas Roadhouse by 3.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the last quarter. Cornerstone Investment Partners LLC boosted its holdings in Texas Roadhouse by 2.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. grew its stake in Texas Roadhouse by 3.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after purchasing an additional 60 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after purchasing an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the sale, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Curtis Warfield sold 3,281 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total value of $602,621.27. Following the completion of the transaction, the director now directly owns 6,801 shares of the company’s stock, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,905 shares of company stock worth $3,198,367. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TXRH. Citigroup raised their price target on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays dropped their price target on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price for the company. Guggenheim cut their price objective on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, 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 research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $192.73.

Texas Roadhouse Stock Performance

TXRH opened at $179.03 on Monday. The firm has a market cap of $11.94 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The business has a 50 day moving average price of $178.57 and a 200 day moving average price of $181.07. Texas Roadhouse, Inc. has a twelve month low of $146.75 and a twelve month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be given a $0.68 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

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.