Hillsdale Investment Management Inc. Lowers Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Hillsdale Investment Management Inc. cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,300 shares of the restaurant operator’s stock after selling 1,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Texas Roadhouse were worth $595,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TXRH. Virtu Financial LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $577,000. Magnetar Financial LLC raised its holdings in shares of Texas Roadhouse by 116.1% in the fourth quarter. Magnetar Financial LLC now owns 14,357 shares of the restaurant operator’s stock valued at $2,590,000 after acquiring an additional 7,712 shares in the last quarter. Crown Advisors Management Inc. raised its holdings in shares of Texas Roadhouse by 100.0% in the fourth quarter. Crown Advisors Management Inc. now owns 15,000 shares of the restaurant operator’s stock valued at $2,706,000 after acquiring an additional 7,500 shares in the last quarter. Xponance Inc. lifted its stake in Texas Roadhouse by 2.7% in the fourth quarter. Xponance Inc. now owns 13,558 shares of the restaurant operator’s stock worth $2,446,000 after acquiring an additional 362 shares during the period. Finally, Signaturefd LLC grew its holdings in Texas Roadhouse by 36.0% during the 4th quarter. Signaturefd LLC now owns 2,734 shares of the restaurant operator’s stock worth $493,000 after acquiring an additional 724 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TXRH shares. Truist Financial dropped their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Wedbush reduced their price target on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their price objective 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, 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 report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.91.

Texas Roadhouse Trading Up 3.5 %

Shares of NASDAQ TXRH opened at $175.87 on Tuesday. The company has a 50 day simple moving average of $176.70 and a two-hundred day simple moving average of $181.41. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th will be paid a $0.68 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.55%. Texas Roadhouse’s dividend payout ratio is presently 42.04%.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 2,700 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction on 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 transaction, the director now directly owns 6,801 shares of the company’s stock, valued at $1,249,139.67. The trade was a 32.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 over the last ninety days. Company insiders own 0.50% of the company’s stock.

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.