Prudential Financial Inc. Reduces Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Prudential Financial Inc. decreased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 77.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,159 shares of the restaurant operator's stock after selling 129,713 shares during the period. Prudential Financial Inc. owned about 0.06% of Texas Roadhouse worth $6,885,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TXRH. True Wealth Design LLC bought a new stake in Texas Roadhouse in the 3rd quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Texas Roadhouse during the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 65 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at about $64,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TXRH shares. Wedbush increased their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Gordon Haskett lowered Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Wednesday, January 8th. Guggenheim reduced their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group initiated coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They issued a "neutral" rating and a $213.00 price objective for the company. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their target price 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $193.36.

Remove Ads

Texas Roadhouse Stock Performance

Shares of TXRH traded down $7.19 during trading hours on Friday, hitting $159.86. The company had a trading volume of 1,929,890 shares, compared to its average volume of 850,917. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.23 and a beta of 1.00. The firm has a fifty day moving average price of $175.08 and a 200-day moving average price of $181.66. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued 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. The business had revenue of $1.44 billion during 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%. Research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.68 per share. 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. The ex-dividend date was Tuesday, March 18th. Texas Roadhouse's dividend payout ratio (DPR) is currently 42.04%.

Insiders Place Their Bets

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares of the company's stock, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the transaction, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. The trade was a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,905 shares of company stock valued at $3,198,367. Corporate 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.