Renaissance Group LLC Raises Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Renaissance Group LLC lifted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,308 shares of the restaurant operator's stock after purchasing an additional 3,058 shares during the quarter. Renaissance Group LLC's holdings in Texas Roadhouse were worth $5,468,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Texas Roadhouse in the fourth quarter valued at about $155,239,000. FMR LLC raised its stake in Texas Roadhouse by 44.8% during the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after acquiring an additional 402,465 shares during the last quarter. Franklin Resources Inc. lifted its position in Texas Roadhouse by 76.0% during the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock worth $157,375,000 after acquiring an additional 385,998 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at approximately $55,177,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Texas Roadhouse by 29.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator's stock valued at $147,866,000 after purchasing an additional 184,250 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Activity

In other Texas Roadhouse news, Director Curtis Warfield sold 4,190 shares of Texas Roadhouse stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $178.80, for a total value of $749,172.00. Following the completion of the sale, the director now owns 10,082 shares in the company, valued at $1,802,661.60. The trade was a 29.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Regina A. Tobin sold 3,154 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,535 shares of company stock valued at $2,952,507 over the last 90 days. Insiders own 0.50% of the company's stock.

Remove Ads

Texas Roadhouse Stock Performance

TXRH stock traded down $1.54 on Friday, reaching $160.17. The company had a trading volume of 1,239,775 shares, compared to its average volume of 868,592. The company's fifty day moving average is $171.92 and its 200 day moving average is $181.09. The company has a market cap of $10.64 billion, a P/E ratio of 24.76, a PEG ratio of 1.23 and a beta of 0.88. Texas Roadhouse, Inc. has a 1 year low of $146.79 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.44 billion for 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%. On average, 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 declared 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. The ex-dividend date was Tuesday, March 18th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.70%. Texas Roadhouse's payout ratio is 42.04%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TXRH shares. Royal Bank of Canada decreased their price target on Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Guggenheim lowered 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. Truist Financial cut 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. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the company an "outperform" rating in a report on Monday, April 7th. Finally, Gordon Haskett downgraded Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research note on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.23.

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.