ExodusPoint Capital Management LP Purchases New Shares in Texas Roadhouse, Inc. (NASDAQ:TXRH)

ExodusPoint Capital Management LP acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,441 shares of the restaurant operator's stock, valued at approximately $17,762,000. ExodusPoint Capital Management LP owned approximately 0.15% of Texas Roadhouse at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Cornerstone Investment Partners LLC grew its stake in Texas Roadhouse by 2.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock valued at $390,000 after buying an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. increased its holdings in Texas Roadhouse by 3.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator's stock valued at $289,000 after purchasing an additional 60 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Texas Roadhouse by 9.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 960 shares of the restaurant operator's stock worth $173,000 after acquiring an additional 80 shares during the last quarter. Finally, Bridge City Capital LLC raised its stake in shares of Texas Roadhouse by 1.0% during the fourth quarter. Bridge City Capital LLC now owns 9,326 shares of the restaurant operator's stock worth $1,683,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

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Texas Roadhouse Stock Performance

NASDAQ TXRH 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 has a market capitalization of $10.62 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The firm has a 50-day moving average of $175.08 and a 200-day moving average of $181.77.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.41 billion. As a group, research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were given a $0.68 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.70%. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's payout ratio is presently 42.04%.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 2,050 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $170.66, for a total transaction of $349,853.00. Following the sale, the chief technology officer now owns 17,162 shares of the company's stock, valued at approximately $2,928,866.92. This represents a 10.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,905 shares of company stock valued at $3,198,367. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TXRH. Stephens reduced their price target on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Truist Financial reduced their price target on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a report on Friday, February 21st. Guggenheim dropped their price target on Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus cut their target price on Texas Roadhouse from $185.00 to $172.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Finally, Morgan Stanley raised Texas Roadhouse from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $193.36.

Texas Roadhouse Company 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.