Clearbridge Investments LLC Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Clearbridge Investments LLC bought a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 166,628 shares of the restaurant operator's stock, valued at approximately $30,065,000. Clearbridge Investments LLC owned about 0.25% of Texas Roadhouse as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Investment Partners LLC raised its holdings in shares of Texas Roadhouse by 2.7% in the fourth 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 last quarter. Lifestyle Asset Management Inc. grew its position in 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. MassMutual Private Wealth & Trust FSB increased its stake in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock valued at $48,000 after buying an additional 65 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in Texas Roadhouse by 9.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 960 shares of the restaurant operator's stock worth $173,000 after buying an additional 80 shares in the last quarter. Finally, Bridge City Capital LLC lifted its position in Texas Roadhouse by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 9,326 shares of the restaurant operator's stock worth $1,683,000 after buying an additional 88 shares in the last quarter. Institutional investors own 94.82% of the company's stock.

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Texas Roadhouse Stock Performance

NASDAQ:TXRH traded down $7.19 during mid-day trading on Friday, reaching $159.86. 1,929,890 shares of the company's stock were exchanged, compared to its average volume of 850,917. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The business's fifty day simple moving average is $175.08 and its two-hundred day simple moving average is $181.66. The firm has a market capitalization of $10.62 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

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

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.68 dividend. The ex-dividend date was Tuesday, March 18th. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.70%. Texas Roadhouse's payout ratio is currently 42.04%.

Insider Activity

In related news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Curtis Warfield sold 3,281 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the transaction, the director now owns 6,801 shares of the company's stock, valued at approximately $1,249,139.67. This represents a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,905 shares of company stock worth $3,198,367. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Barclays lowered their price target on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Truist Financial cut their price objective on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a report on Friday, February 21st. Wedbush boosted their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of "Moderate Buy" and a consensus target price of $193.36.

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.