Cinctive Capital Management LP Decreases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Cinctive Capital Management LP lessened its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,524 shares of the restaurant operator's stock after selling 19,986 shares during the period. Cinctive Capital Management LP's holdings in Texas Roadhouse were worth $1,538,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new stake in Texas Roadhouse during the 4th quarter worth about $36,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of 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 period. VisionPoint Advisory Group LLC purchased a new stake in shares of Texas Roadhouse in the fourth quarter worth about $64,000. Finally, Asset Planning Inc acquired a new stake in Texas Roadhouse during the fourth quarter worth about $74,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Analysts Set New Price Targets

TXRH has been the subject of a number of research analyst reports. Stephens reduced their price objective on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Barclays lowered their target price on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their price target on Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Finally, Guggenheim cut their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $193.36.

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Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 2,700 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $168.26, for a total value of $454,302.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christopher C. Colson sold 1,370 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now owns 10,000 shares of the company's stock, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock valued at $3,198,367 in the last 90 days. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Shares of TXRH stock traded down $7.19 on Friday, hitting $159.86. The stock had a trading volume of 1,929,890 shares, compared to its average volume of 851,029. The company's 50 day moving average price is $175.08 and its 200-day moving average price is $181.77. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04. The firm has a market capitalization of $10.62 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.23 and a beta of 0.88.

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. 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 analyst estimates of $1.41 billion. On average, equities analysts forecast 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. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.68 per share. 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 dividend on an annualized basis and a yield of 1.70%. Texas Roadhouse's dividend payout ratio is 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.