Bridgewater Associates LP Sells 35,347 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bridgewater Associates LP decreased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 42.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,481 shares of the restaurant operator's stock after selling 35,347 shares during the quarter. Bridgewater Associates LP owned about 0.07% of Texas Roadhouse worth $8,747,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Texas Roadhouse during the fourth quarter valued at approximately $155,239,000. FMR LLC grew its position in Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after buying an additional 402,465 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock valued at $157,375,000 after buying an additional 385,998 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at $55,177,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Texas Roadhouse by 29.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator's stock worth $147,866,000 after acquiring an additional 184,250 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus reduced their target price on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday. Barclays reduced their price objective 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 dropped their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Robert W. Baird set a $180.00 price objective on shares of Texas Roadhouse and gave the stock an "outperform" rating in a research note on Monday, April 7th. Finally, Gordon Haskett downgraded shares of Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price on the stock. in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.81.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $1.38 during midday trading on Friday, reaching $161.89. 1,117,803 shares of the company's stock traded hands, compared to its average volume of 874,272. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The company's 50 day simple moving average is $170.53 and its 200 day simple moving average is $180.55.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's dividend payout ratio (DPR) is 42.04%.

Insider Activity

In other Texas Roadhouse news, Director Curtis Warfield sold 3,281 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the completion of the sale, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. This represents a 32.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the firm's stock in a transaction dated 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 directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,535 shares of company stock valued at $2,952,507 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.