Alliancebernstein L.P. Reduces Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Alliancebernstein L.P. reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 466,674 shares of the restaurant operator's stock after selling 8,697 shares during the quarter. Alliancebernstein L.P. owned approximately 0.70% of Texas Roadhouse worth $84,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its holdings in Texas Roadhouse by 514.0% in the 4th quarter. Meeder Asset Management Inc. now owns 43,073 shares of the restaurant operator's stock worth $7,772,000 after acquiring an additional 36,058 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Texas Roadhouse by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 683,748 shares of the restaurant operator's stock worth $123,369,000 after purchasing an additional 15,186 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Texas Roadhouse by 5.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,569 shares of the restaurant operator's stock valued at $1,005,000 after purchasing an additional 269 shares during the period. Clearbridge Investments LLC purchased a new stake in shares of Texas Roadhouse during the 4th quarter valued at approximately $30,065,000. Finally, California Public Employees Retirement System grew its stake in Texas Roadhouse by 1.5% in the 4th quarter. California Public Employees Retirement System now owns 318,086 shares of the restaurant operator's stock valued at $57,392,000 after buying an additional 4,610 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TXRH. Wedbush lifted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price target on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Morgan Stanley upgraded shares of 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 research report on Tuesday, January 21st. Barclays decreased their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada cut their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.36.

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Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares of the company's stock, valued at approximately $3,418,374.96. This trade represents a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock valued at $3,198,367 in the last ninety days. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $167.05 on Friday. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The company has a fifty day moving average of $175.45 and a 200-day moving average of $181.68. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

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

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.63%. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Tuesday, March 18th. Texas Roadhouse's dividend payout ratio (DPR) is presently 42.04%.

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.

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