Pier Capital LLC Has $795,000 Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Pier Capital LLC lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,407 shares of the restaurant operator's stock after selling 51,382 shares during the quarter. Pier Capital LLC's holdings in Texas Roadhouse were worth $795,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commerce Bank increased its stake in shares of Texas Roadhouse by 2.5% in the third quarter. Commerce Bank now owns 6,388 shares of the restaurant operator's stock worth $1,128,000 after buying an additional 156 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator's stock valued at $53,000 after purchasing an additional 185 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Texas Roadhouse during the third quarter worth about $17,853,000. Meridian Wealth Management LLC acquired a new position in Texas Roadhouse in the third quarter worth about $302,000. Finally, Cerity Partners LLC grew its stake in Texas Roadhouse by 37.7% in the third quarter. Cerity Partners LLC now owns 45,761 shares of the restaurant operator's stock worth $8,081,000 after purchasing an additional 12,526 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXRH has been the subject of several research reports. Citigroup lifted their target price on Texas Roadhouse from $212.00 to $213.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Barclays lowered 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 research note on Friday, February 21st. Truist Financial decreased their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a report on Friday, February 21st. Gordon Haskett lowered shares of Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 price objective on the stock. in a research note on Wednesday, January 8th. Finally, Guggenheim cut their target price on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $193.36.

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Insider Buying and Selling

In other Texas Roadhouse news, Director Gregory N. Moore sold 2,700 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Regina A. Tobin sold 3,154 shares of the firm'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 transaction of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares of the company's stock, valued at $3,418,374.96. This represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock worth $3,198,367 in the last three months. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Stock Down 2.1 %

TXRH traded down $3.69 during trading on Friday, reaching $171.05. The stock had a trading volume of 951,167 shares, compared to its average volume of 837,276. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04. The firm has a market capitalization 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 has a 50 day moving average of $176.36 and a two-hundred day moving average of $181.65.

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 analysts' consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. On average, research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

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

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.