BI Asset Management Fondsmaeglerselskab A S Sells 21,988 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 79.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,803 shares of the restaurant operator's stock after selling 21,988 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Texas Roadhouse were worth $1,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in Texas Roadhouse in the fourth quarter valued at approximately $2,959,000. Zions Bancorporation N.A. increased its position in shares of Texas Roadhouse by 19.5% during the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock worth $2,373,000 after buying an additional 2,144 shares during the period. Bessemer Group Inc. increased its position in shares of Texas Roadhouse by 4.3% during the fourth quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator's stock worth $31,768,000 after buying an additional 7,301 shares during the period. Chase Investment Counsel Corp acquired a new position in Texas Roadhouse in the fourth quarter valued at $316,000. Finally, Raymond James Financial Inc. bought a new stake in Texas Roadhouse during the fourth quarter valued at $55,177,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Analysts Set New Price Targets

TXRH has been the subject of several research analyst reports. Truist Financial lowered their price objective on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Stephens dropped their price target on 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. Gordon Haskett downgraded shares of Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 price objective for the company. in a research report on Wednesday, January 8th. Wedbush lifted their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, March 28th. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and a consensus target price of $194.62.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 580 shares of Texas Roadhouse stock in a transaction on Friday, February 28th. The stock was sold at an average price of $181.94, for a total transaction of $105,525.20. Following the sale, the insider now directly owns 12,000 shares in the company, valued at $2,183,280. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the completion of the transaction, the director now owns 6,801 shares in the company, valued at approximately $1,249,139.67. The trade was a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,535 shares of company stock valued at $2,952,507. 0.50% of the stock is owned by insiders.

Texas Roadhouse Price Performance

TXRH opened at $162.95 on Wednesday. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.23 and a beta of 0.88. The firm's fifty day moving average price is $170.18 and its two-hundred day moving average price is $180.33.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share 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 business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.41 billion. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.67%. Texas Roadhouse's dividend payout ratio is currently 42.04%.

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.

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