Norges Bank Acquires Shares of 860,384 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Norges Bank acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 860,384 shares of the restaurant operator's stock, valued at approximately $155,239,000. Norges Bank owned approximately 1.29% of Texas Roadhouse at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Texas Roadhouse in the 3rd quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Texas Roadhouse during the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse in the fourth quarter worth $36,000. MassMutual Private Wealth & Trust FSB raised its stake in Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock valued at $48,000 after purchasing an additional 65 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Texas Roadhouse during the fourth quarter worth about $64,000. Institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Down 4.3 %

Shares of NASDAQ:TXRH traded down $7.19 during midday trading on Friday, reaching $159.86. 1,929,890 shares of the company traded hands, compared to its average volume of 850,917. The firm's fifty day moving average price is $175.08 and its two-hundred day moving average price is $181.66. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The firm 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 1.00.

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Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

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

Insider Buying and Selling

In other news, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher C. Colson sold 580 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $2,183,280. This represents a 4.61 % 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 worth $3,198,367. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TXRH shares. Citigroup boosted their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Barclays lowered their price target on Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Royal Bank of Canada lowered their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Finally, Guggenheim dropped their target price on 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 equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock 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.