Corebridge Financial Inc. Sells 3,378 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Corebridge Financial Inc. cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,254 shares of the restaurant operator's stock after selling 3,378 shares during the period. Corebridge Financial Inc. owned 0.11% of Texas Roadhouse worth $13,759,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Texas Roadhouse by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator's stock worth $1,180,123,000 after purchasing an additional 76,051 shares during the period. State Street Corp increased its position in Texas Roadhouse by 2.0% during the 3rd quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator's stock worth $350,171,000 after buying an additional 38,723 shares during the period. Geode Capital Management LLC increased its position in Texas Roadhouse by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator's stock worth $212,261,000 after buying an additional 18,126 shares during the period. Barclays PLC lifted its holdings in shares of Texas Roadhouse by 14.4% during the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator's stock worth $208,539,000 after buying an additional 148,462 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Texas Roadhouse by 81.6% in the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator's stock valued at $158,679,000 after acquiring an additional 403,720 shares during the period. Institutional investors own 94.82% of the company's stock.

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Insider Activity at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the sale, the president now directly owns 18,414 shares in the company, valued at $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Curtis Warfield sold 4,190 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the transaction, the director now owns 10,082 shares of the company's stock, valued at approximately $1,802,661.60. The trade was a 29.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock worth $3,198,367 over the last three months. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Down 2.1 %

Shares of TXRH stock traded down $3.69 during mid-day trading on Friday, reaching $171.05. 951,167 shares of the stock traded hands, compared to its average volume of 837,276. The company has a market cap of $11.37 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The stock's fifty day simple moving average is $176.36 and its two-hundred day simple moving average is $181.78. 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 posted 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.59%. Texas Roadhouse's payout ratio is currently 42.04%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Guggenheim dropped 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 note on Thursday, February 27th. Barclays cut their price target on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Stifel Nicolaus reduced their price target 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. The Goldman Sachs Group assumed coverage on Texas Roadhouse in a report on Thursday, December 5th. They issued a "neutral" rating and a $213.00 price objective for the company. Finally, Morgan Stanley raised 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 report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $193.36.

Texas Roadhouse 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.