Cinctive Capital Management LP Purchases Shares of 28,510 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Cinctive Capital Management LP acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,510 shares of the restaurant operator’s stock, valued at approximately $5,035,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TXRH. Kingsview Wealth Management LLC lifted its stake in Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Texas Roadhouse by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 62 shares during the last quarter. Insight Wealth Partners LLC boosted its stake in shares of Texas Roadhouse by 3.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock worth $321,000 after acquiring an additional 68 shares during the period. PSI Advisors LLC increased its holdings in shares of Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its stake in Texas Roadhouse by 5.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock valued at $259,000 after acquiring an additional 75 shares during the period. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 3.4 %

NASDAQ TXRH opened at $198.20 on Tuesday. Texas Roadhouse, Inc. has a 1 year low of $112.87 and a 1 year high of $206.04. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 34.06, a P/E/G ratio of 1.75 and a beta of 0.98. The firm’s 50 day simple moving average is $187.65 and its 200 day simple moving average is $175.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $0.95 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.61 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.23%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.92%.

Insider Activity

In other news, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now owns 3,532 shares in the company, valued at $691,071.12. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on TXRH shares. Barclays lifted their price objective on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Truist Financial upped their price target on shares of Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Guggenheim raised their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. UBS Group upped their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada lifted their price target on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $189.00.

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.