Jennison Associates LLC Decreases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Jennison Associates LLC trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 235,174 shares of the restaurant operator’s stock after selling 33,104 shares during the quarter. Jennison Associates LLC’s holdings in Texas Roadhouse were worth $28,745,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TXRH. CWM LLC raised its holdings in shares of Texas Roadhouse by 110.8% in the third quarter. CWM LLC now owns 1,617 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 850 shares during the last quarter. AE Wealth Management LLC increased its stake in Texas Roadhouse by 25.4% in the third quarter. AE Wealth Management LLC now owns 3,544 shares of the restaurant operator’s stock valued at $341,000 after purchasing an additional 718 shares during the last quarter. SG Americas Securities LLC increased its stake in Texas Roadhouse by 945.0% in the third quarter. SG Americas Securities LLC now owns 25,497 shares of the restaurant operator’s stock valued at $2,450,000 after purchasing an additional 23,057 shares during the last quarter. Impact Partnership Wealth LLC acquired a new position in Texas Roadhouse in the third quarter valued at $108,000. Finally, Exchange Traded Concepts LLC acquired a new position in Texas Roadhouse in the third quarter valued at $528,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the transaction, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the transaction, the director now owns 13,397 shares in the company, valued at $1,991,865.96. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock valued at $1,843,145 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Morgan Stanley upped their target price on Texas Roadhouse from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Citigroup upped their price target on Texas Roadhouse from $162.00 to $178.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Stephens initiated coverage on Texas Roadhouse in a research note on Friday, April 12th. They issued an “equal weight” rating and a $150.00 target price for the company. Finally, Benchmark initiated coverage on Texas Roadhouse in a research note on Wednesday, April 10th. They issued a “hold” rating for the company. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.76.

Texas Roadhouse Trading Down 0.1 %

Shares of NASDAQ TXRH opened at $156.76 on Thursday. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 1.70 and a beta of 0.99. Texas Roadhouse, Inc. has a 12-month low of $91.06 and a 12-month high of $158.54. The stock’s 50 day simple moving average is $150.64 and its 200 day simple moving average is $126.62.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 27.43% and a net margin of 6.58%. The business’s revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a yield of 1.56%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is presently 53.86%.

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.