Pinebridge Investments L.P. Boosts Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Pinebridge Investments L.P. grew its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 31.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,734 shares of the restaurant operator’s stock after acquiring an additional 13,252 shares during the quarter. Pinebridge Investments L.P. owned about 0.08% of Texas Roadhouse worth $10,056,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TXRH. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Texas Roadhouse in the fourth quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse in the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB increased its stake in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after buying an additional 65 shares during the period. VisionPoint Advisory Group LLC purchased a new position in Texas Roadhouse in the 4th quarter worth about $64,000. Finally, Asset Planning Inc bought a new stake in Texas Roadhouse during the 4th quarter valued at about $74,000. Institutional investors own 94.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Guggenheim reduced their target price 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. Stephens reduced their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Truist Financial decreased their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Finally, Wells Fargo & Company decreased their price objective on Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Tuesday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.29.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $161.84 on Friday. The stock has a market cap of $10.75 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. The stock has a 50-day moving average of $169.82 and a two-hundred day moving average of $180.12. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. As a group, sell-side analysts predict 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 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 a positive change 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 1.68%. Texas Roadhouse’s payout ratio is 42.04%.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the business’s 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $181.94, for a total value of $105,525.20. Following the completion of the transaction, the insider now owns 12,000 shares of the company’s stock, valued at approximately $2,183,280. The trade was a 4.61 % 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 in the last ninety days. Company insiders own 0.50% of the company’s stock.

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.