Texas Roadhouse, Inc. $TXRH Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 742,356 shares of the restaurant operator’s stock after selling 155,224 shares during the quarter. Franklin Resources Inc.’s holdings in Texas Roadhouse were worth $123,231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TXRH. Capital World Investors boosted its holdings in shares of Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after buying an additional 1,908,033 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth about $157,310,000. Norges Bank bought a new stake in shares of Texas Roadhouse during the 4th quarter worth about $145,734,000. Victory Capital Management Inc. raised its holdings in shares of Texas Roadhouse by 770.6% in the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock worth $161,540,000 after purchasing an additional 860,571 shares in the last quarter. Finally, Steadfast Capital Management LP raised its holdings in shares of Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after purchasing an additional 635,178 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $164.24 on Thursday. The stock has a market cap of $10.80 billion, a P/E ratio of 26.24, a PEG ratio of 1.79 and a beta of 0.79. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $197.00. The company has a fifty day moving average price of $168.17 and a 200 day moving average price of $173.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company earned $1.70 EPS. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts anticipate that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. Texas Roadhouse’s dividend payout ratio is currently 47.92%.

Insider Buying and Selling

In other news, Director Gregory N. Moore sold 1,250 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $178.14, for a total value of $222,675.00. Following the completion of the transaction, the director owned 30,900 shares in the company, valued at approximately $5,504,526. This represents a 3.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 5,000 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total transaction of $850,000.00. Following the completion of the transaction, the chief technology officer owned 15,552 shares of the company’s stock, valued at approximately $2,643,840. This represents a 24.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,166 shares of company stock worth $2,813,705. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

TXRH has been the topic of a number of research reports. Citigroup dropped their target price on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Truist Financial lowered their price objective on shares of Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. BMO Capital Markets boosted their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday, May 21st. TD Cowen boosted their target price on shares of Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Stifel Nicolaus boosted their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and an average target price of $196.36.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.