SageView Advisory Group LLC Acquires Shares of 2,560 Texas Roadhouse, Inc. (NASDAQ:TXRH)

SageView Advisory Group LLC bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,560 shares of the restaurant operator’s stock, valued at approximately $395,000.

A number of other large investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Texas Roadhouse in the fourth quarter valued at about $78,544,000. Balyasny Asset Management L.P. boosted its position in Texas Roadhouse by 4,150.1% in 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 in the last quarter. Armistice Capital LLC bought a new stake in shares of Texas Roadhouse during the fourth quarter worth $28,724,000. Bank of Nova Scotia grew its position in Texas Roadhouse by 5,135.0% during the 4th 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 last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in Texas Roadhouse by 2,985.3% in 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 purchasing an additional 201,714 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TXRH shares. Truist Financial upped their price objective on Texas Roadhouse from $183.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Benchmark started coverage on Texas Roadhouse in a research report on Wednesday, April 10th. They set a “hold” rating for the company. Barclays upped their target price on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Robert W. Baird upped their price objective on shares of Texas Roadhouse from $178.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Jefferies Financial Group boosted their target price on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.77.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Texas Roadhouse news, Director Curtis Warfield sold 1,025 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $165.82, for a total value of $169,965.50. Following the sale, the director now directly owns 12,372 shares in the company, valued at $2,051,525.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,025 shares of company stock worth $3,251,266. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH traded down $2.97 during mid-day trading on Thursday, reaching $168.60. 1,077,437 shares of the company’s stock traded hands, compared to its average volume of 799,400. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $175.72. The stock has a market cap of $11.26 billion, a P/E ratio of 34.13, a PEG ratio of 1.69 and a beta of 1.01. The business has a 50-day simple moving average of $169.50 and a 200 day simple moving average of $151.82.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.04 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Wednesday, June 12th. Texas Roadhouse’s payout ratio is 49.39%.

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.