Avantax Advisory Services Inc. Sells 89 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Avantax Advisory Services Inc. lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,165 shares of the restaurant operator’s stock after selling 89 shares during the period. Avantax Advisory Services Inc.’s holdings in Texas Roadhouse were worth $2,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TXRH. Kingsview Wealth Management LLC raised its holdings in shares of Texas Roadhouse by 3.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the period. Cornerstone Investment Partners LLC raised its stake in shares of Texas Roadhouse by 2.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares during the period. Lifestyle Asset Management Inc. lifted its holdings in shares of Texas Roadhouse by 3.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after purchasing an additional 60 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Texas Roadhouse by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $171.95 on Tuesday. The firm has a market cap of $11.43 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 52 week low of $146.75 and a 52 week high of $206.04. The firm’s 50-day simple moving average is $177.71 and its 200 day simple moving average is $181.29.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. This trade represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TXRH has been the topic of several research reports. Barclays cut their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Truist Financial reduced their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a report on Friday, February 21st. Stephens lowered their price target on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Wedbush cut their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.73.

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.