Royce & Associates LP Reduces Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Royce & Associates LP lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 25.6% during the 3rd quarter, Holdings Channel reports. The firm owned 16,000 shares of the restaurant operator’s stock after selling 5,500 shares during the quarter. Royce & Associates LP’s holdings in Texas Roadhouse were worth $2,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TXRH. Vanguard Group Inc. raised its position in shares of Texas Roadhouse by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after purchasing an additional 53,419 shares during the last quarter. Geneva Capital Management LLC raised its holdings in shares of Texas Roadhouse by 0.4% in the third quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock worth $162,897,000 after acquiring an additional 3,584 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Texas Roadhouse by 22.3% in the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after acquiring an additional 165,738 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after acquiring an additional 430,814 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Texas Roadhouse by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock worth $127,859,000 after purchasing an additional 2,578 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TXRH. BTIG Research raised their price target on shares of Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Truist Financial raised their target price on shares of Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Citigroup boosted their price target on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Morgan Stanley raised their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $189.00.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $195.77 on Tuesday. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.69 and a beta of 0.98. Texas Roadhouse, Inc. has a 1-year low of $109.13 and a 1-year high of $203.32. The business has a 50-day moving average of $180.28 and a 200-day moving average of $172.83.

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

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 1.25%. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at $3,305,332.92. This represents a 8.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the transaction, the director now owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

About Texas Roadhouse

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.