Cinctive Capital Management LP Lowers Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Cinctive Capital Management LP trimmed its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 70.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,524 shares of the restaurant operator’s stock after selling 19,986 shares during the quarter. Cinctive Capital Management LP’s holdings in Texas Roadhouse were worth $1,538,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its position in Texas Roadhouse by 22.4% in the third quarter. Glenmede Trust Co. NA now owns 2,048 shares of the restaurant operator’s stock worth $362,000 after buying an additional 375 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Texas Roadhouse by 72.8% during the 3rd quarter. Captrust Financial Advisors now owns 15,727 shares of the restaurant operator’s stock worth $2,777,000 after purchasing an additional 6,624 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in Texas Roadhouse by 1,723.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,222 shares of the restaurant operator’s stock valued at $216,000 after purchasing an additional 1,155 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Texas Roadhouse in the 3rd quarter worth about $390,000. Finally, Centiva Capital LP lifted its stake in Texas Roadhouse by 159.7% in the third quarter. Centiva Capital LP now owns 6,866 shares of the restaurant operator’s stock worth $1,213,000 after purchasing an additional 4,222 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now owns 18,414 shares of the company’s stock, valued at $3,418,374.96. This represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher C. Colson sold 580 shares of Texas Roadhouse stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $181.94, for a total transaction of $105,525.20. Following the sale, the insider now owns 12,000 shares of the company’s stock, valued at approximately $2,183,280. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,905 shares of company stock valued at $3,198,367 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $167.05 on Friday. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.23 and a beta of 1.00. The stock has a 50 day moving average price of $175.45 and a 200 day moving average price of $181.68.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results 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. 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, analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.63%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, March 18th. Texas Roadhouse’s payout ratio is presently 42.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target on the stock. Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price for the company. in a research report on Wednesday, January 8th. Truist Financial cut their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Finally, Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.36.

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.