First Horizon Advisors Inc. Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

First Horizon Advisors Inc. lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 18.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 245 shares of the restaurant operator’s stock after selling 57 shares during the period. First Horizon Advisors Inc.’s holdings in Texas Roadhouse were worth $44,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in Texas Roadhouse by 209.9% in the third quarter. Blue Trust Inc. now owns 471 shares of the restaurant operator’s stock worth $81,000 after purchasing an additional 319 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Texas Roadhouse by 17,559.6% in the third quarter. International Assets Investment Management LLC now owns 20,132 shares of the restaurant operator’s stock worth $3,555,000 after purchasing an additional 20,018 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Texas Roadhouse by 101.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,894 shares of the restaurant operator’s stock worth $1,571,000 after purchasing an additional 4,469 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Texas Roadhouse by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 7,767 shares of the restaurant operator’s stock worth $1,371,000 after buying an additional 525 shares during the period. Finally, abrdn plc lifted its stake in shares of Texas Roadhouse by 33.8% during the third quarter. abrdn plc now owns 212,039 shares of the restaurant operator’s stock worth $37,446,000 after buying an additional 53,549 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $177.90 on Friday. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.23 and a beta of 1.02. The company’s 50-day moving average is $178.51 and its two-hundred day moving average is $180.31. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) 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. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share 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 issued a $0.68 dividend. 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 1.53%. The ex-dividend date is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 2,050 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $170.66, for a total transaction of $349,853.00. Following the completion of the sale, the chief technology officer now owns 17,162 shares of the company’s stock, valued at $2,928,866.92. This trade represents a 10.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,120 shares of company stock worth $1,050,015. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TXRH. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research report on Wednesday, January 8th. Citigroup boosted their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price for the company. Finally, Truist Financial cut their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.73.

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.