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

MGB Wealth Management LLC lowered its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,116 shares of the restaurant operator’s stock after selling 300 shares during the quarter. MGB Wealth Management LLC’s holdings in Texas Roadhouse were worth $1,562,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in Texas Roadhouse in the fourth quarter worth approximately $78,544,000. Balyasny Asset Management L.P. increased its stake in shares of Texas Roadhouse by 4,150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after buying an additional 441,069 shares during the period. Armistice Capital LLC bought a new stake in shares of Texas Roadhouse in the fourth quarter valued at about $28,724,000. Bank of Nova Scotia lifted its stake in Texas Roadhouse by 5,135.0% in the fourth 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 during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in Texas Roadhouse by 2,985.3% during 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. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of research analyst reports. Citigroup increased their price target on Texas Roadhouse from $178.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Jefferies Financial Group lifted their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Stephens raised their price target on shares of Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Evercore ISI lifted their price objective on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $157.95.

Texas Roadhouse Trading Up 1.3 %

TXRH stock traded up $2.15 during trading on Friday, reaching $169.66. 223,565 shares of the stock were exchanged, compared to its average volume of 792,694. The business has a 50 day moving average price of $169.07 and a 200-day moving average price of $150.27. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $175.72. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 33.91, a P/E/G ratio of 1.62 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share. On average, research analysts anticipate that Texas Roadhouse, Inc. will post 6.03 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

Insiders Place Their Bets

In related news, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction 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 approximately $13,366,329.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Hernan E. Mujica sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $168.60, for a total transaction of $505,800.00. Following the completion of the transaction, the chief technology officer now owns 17,842 shares of the company’s stock, valued at approximately $3,008,161.20. The disclosure for this sale can be found here. Insiders have sold 19,025 shares of company stock worth $3,251,266 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.