Ninety One UK Ltd Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Ninety One UK Ltd cut its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 645,933 shares of the restaurant operator’s stock after selling 161,444 shares during the quarter. Ninety One UK Ltd owned approximately 0.97% of Texas Roadhouse worth $78,952,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Avior Wealth Management LLC grew its position in shares of Texas Roadhouse by 3.2% during the 4th quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after acquiring an additional 111 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Texas Roadhouse by 13.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,634 shares of the restaurant operator’s stock worth $2,033,000 after buying an additional 2,027 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Texas Roadhouse by 0.8% in the fourth quarter. Mackenzie Financial Corp now owns 121,629 shares of the restaurant operator’s stock valued at $14,867,000 after buying an additional 998 shares during the period. Strs Ohio grew its stake in shares of Texas Roadhouse by 16.2% during the 4th quarter. Strs Ohio now owns 55,181 shares of the restaurant operator’s stock worth $6,744,000 after acquiring an additional 7,706 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Texas Roadhouse in the 4th quarter worth about $2,298,000. 94.82% of the stock is currently owned by institutional investors.

Insider Activity

In other Texas Roadhouse news, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the transaction, the president now owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Donna E. Epps sold 670 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the transaction, the director now owns 4,142 shares in the company, valued at approximately $621,175.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the completion of the transaction, the president now directly owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock worth $1,843,145 in the last quarter. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Trading Up 1.1 %

NASDAQ TXRH traded up $1.63 on Thursday, hitting $151.02. The company’s stock had a trading volume of 391,706 shares, compared to its average volume of 783,925. The firm has a market cap of $10.09 billion, a P/E ratio of 32.98, a PEG ratio of 1.65 and a beta of 0.99. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $157.12. The company’s 50-day simple moving average is $148.67 and its 200 day simple moving average is $124.62.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. On average, research analysts forecast that Texas Roadhouse, Inc. will post 5.74 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.62%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio is currently 53.86%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wedbush lifted their price objective on shares of Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Morgan Stanley raised their price objective on shares of Texas Roadhouse from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. UBS Group increased their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their price objective on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Texas Roadhouse has an average rating of “Hold” and an average price target of $136.05.

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.