LGT Fund Management Co Ltd. Invests $2.41 Million in Texas Roadhouse, Inc. (NASDAQ:TXRH)

LGT Fund Management Co Ltd. purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,336 shares of the restaurant operator’s stock, valued at approximately $2,406,000.

A number of other hedge funds have also modified their holdings of the stock. Kingsview Wealth Management LLC increased its stake in shares of Texas Roadhouse by 3.1% in 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. Lifestyle Asset Management Inc. increased its stake in shares of Texas Roadhouse by 3.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock worth $289,000 after acquiring an additional 60 shares during the last quarter. CIBC Asset Management Inc increased its stake 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 worth $345,000 after acquiring an additional 62 shares during the last quarter. 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 acquiring an additional 65 shares during the last quarter. Finally, Insight Wealth Partners LLC increased its stake in shares of Texas Roadhouse by 3.9% in the third 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 last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $184.09 on Monday. The firm has a 50-day simple moving average of $178.56 and a 200 day simple moving average of $180.59. Texas Roadhouse, Inc. has a twelve month low of $146.75 and a twelve month high of $206.04. The stock has a market cap of $12.28 billion, a PE ratio of 28.45, a PEG ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate 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. Research analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share 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. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, March 18th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Guggenheim lowered their target price on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays lowered their target price 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. Citigroup increased their target price 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. Finally, Stephens lowered 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 research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.73.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 4,190 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were 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 owns 10,082 shares in the company, valued at $1,802,661.60. This trade represents a 29.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher C. Colson sold 580 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $181.94, for a total transaction of $105,525.20. Following the sale, the insider now directly owns 12,000 shares of the company’s stock, valued at approximately $2,183,280. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,470 shares of company stock worth $2,010,238. Company insiders own 0.50% of the company’s stock.

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.