Erste Asset Management GmbH Cuts Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Erste Asset Management GmbH lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,250 shares of the restaurant operator's stock after selling 57,845 shares during the quarter. Erste Asset Management GmbH owned 0.48% of Texas Roadhouse worth $57,318,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of Texas Roadhouse by 8,594.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator's stock valued at $553,000 after purchasing an additional 3,094 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Texas Roadhouse in the 3rd quarter valued at about $17,853,000. Victory Capital Management Inc. increased its holdings in shares of Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator's stock valued at $11,962,000 after purchasing an additional 44,768 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $316,000. Finally, First Hawaiian Bank purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $1,554,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TXRH shares. Barclays dropped their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Morgan Stanley upgraded shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on shares of Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating for the company in a report on Friday, February 21st. Royal Bank of Canada dropped their target price 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. Finally, The Goldman Sachs Group started coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They set a "neutral" rating and a $213.00 target price for the company. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and an average price target of $192.73.

Remove Ads

Texas Roadhouse Stock Performance

TXRH opened at $175.39 on Thursday. The company's 50 day simple moving average is $178.36 and its 200 day simple moving average is $181.16. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04. The stock has a market capitalization of $11.65 billion, a PE ratio of 27.11, a P/E/G ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (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 analysts' expectations of $1.41 billion. As a group, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.68 dividend. The ex-dividend date is Tuesday, March 18th. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.55%. Texas Roadhouse's dividend payout ratio (DPR) is currently 42.04%.

Insider Buying and Selling

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares of the company's stock, valued at $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the transaction, the director now directly owns 6,801 shares in the company, valued at approximately $1,249,139.67. This trade represents 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 have sold 17,905 shares of company stock valued at $3,198,367. Insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.