AMJ Financial Wealth Management Raises Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

AMJ Financial Wealth Management grew its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 76.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,501 shares of the restaurant operator's stock after purchasing an additional 1,518 shares during the quarter. AMJ Financial Wealth Management's holdings in Texas Roadhouse were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its stake in Texas Roadhouse by 101.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,894 shares of the restaurant operator's stock valued at $1,571,000 after acquiring an additional 4,469 shares during the period. State of Alaska Department of Revenue grew its stake in Texas Roadhouse by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,767 shares of the restaurant operator's stock valued at $1,371,000 after buying an additional 525 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Texas Roadhouse by 1.1% in the third quarter. US Bancorp DE now owns 13,375 shares of the restaurant operator's stock worth $2,362,000 after acquiring an additional 150 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Texas Roadhouse by 15.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,801 shares of the restaurant operator's stock worth $2,437,000 after purchasing an additional 1,861 shares during the period. Finally, Angeles Wealth Management LLC grew its stake in Texas Roadhouse by 5.4% during the third quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator's stock valued at $259,000 after acquiring an additional 75 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

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Texas Roadhouse Stock Down 0.1 %

TXRH traded down $0.20 during midday trading on Friday, reaching $179.03. The company had a trading volume of 1,316,159 shares, compared to its average volume of 1,169,521. The business has a 50-day moving average of $178.62 and a two-hundred day moving average of $180.82. The company has a market cap of $11.94 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.23 and a beta of 1.02. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 34.02% and a net margin of 8.07%. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a yield of 1.52%. Texas Roadhouse's dividend payout ratio is presently 42.04%.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of research reports. Truist Financial lowered their price target on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Guggenheim reduced their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley upgraded Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Thursday, December 5th. They issued a "neutral" rating and a $213.00 price target on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.73.

Insiders Place Their Bets

In related news, Director Curtis Warfield sold 4,190 shares of Texas Roadhouse stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $178.80, for a total value of $749,172.00. Following the completion of the transaction, the director now owns 10,082 shares in the company, valued at approximately $1,802,661.60. This trade represents a 29.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 in the last quarter. 0.50% of the stock is currently owned by insiders.

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.