KLP Kapitalforvaltning AS Makes New $2.96 Million Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

KLP Kapitalforvaltning AS purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 16,400 shares of the restaurant operator's stock, valued at approximately $2,959,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in Texas Roadhouse by 37.7% during the 3rd quarter. Cerity Partners LLC now owns 45,761 shares of the restaurant operator's stock valued at $8,081,000 after purchasing an additional 12,526 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator's stock valued at $313,000 after acquiring an additional 54 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Texas Roadhouse in the third quarter valued at approximately $102,000. Daiwa Securities Group Inc. bought a new stake in Texas Roadhouse during the third quarter valued at about $406,000. Finally, Independent Advisor Alliance grew its holdings in Texas Roadhouse by 1.1% in the 3rd quarter. Independent Advisor Alliance now owns 7,654 shares of the restaurant operator's stock valued at $1,352,000 after buying an additional 80 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Trading Down 2.1 %

NASDAQ TXRH traded down $3.69 on Friday, hitting $171.05. 951,167 shares of the company traded hands, compared to its average volume of 837,276. The business's 50 day moving average price is $176.36 and its 200-day moving average price is $181.78. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04.

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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, beating analysts' consensus estimates of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. As a group, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse's dividend payout ratio (DPR) is presently 42.04%.

Insider Activity at Texas Roadhouse

In other news, insider Christopher C. Colson sold 580 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $181.94, for a total transaction of $105,525.20. Following the sale, the insider now owns 12,000 shares of the company's stock, valued at $2,183,280. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Curtis Warfield sold 4,190 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $178.80, for a total value of $749,172.00. Following the sale, the director now owns 10,082 shares in the company, valued at $1,802,661.60. This trade represents a 29.36 % decrease in their ownership of the stock. 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. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TXRH shares. Morgan Stanley raised Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on Texas Roadhouse in a report on Thursday, December 5th. They set a "neutral" rating and a $213.00 price target for the company. Stephens dropped their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Truist Financial cut their price target on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, Citigroup raised their price objective on shares of Texas Roadhouse from $212.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.