Truist Financial Corp Lowers Position in Texas Roadhouse, Inc. $TXRH

Truist Financial Corp trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 49.6% in the fourth quarter, Holdings Channel reports. The firm owned 21,342 shares of the restaurant operator’s stock after selling 21,041 shares during the period. Truist Financial Corp’s holdings in Texas Roadhouse were worth $3,543,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TXRH. Princeton Global Asset Management LLC purchased a new position in Texas Roadhouse during the fourth quarter worth about $31,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $33,000. Root Financial Partners LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $36,000. LRI Investments LLC lifted its holdings in shares of Texas Roadhouse by 100.0% in the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 150 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Texas Roadhouse by 100.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 355 shares of the restaurant operator’s stock worth $59,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Benchmark restated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. TD Cowen dropped their price objective on Texas Roadhouse from $215.00 to $192.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley reissued an “overweight” rating and set a $201.00 target price on shares of Texas Roadhouse in a research note on Friday. Truist Financial lowered their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a report on Friday, February 20th. Finally, Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $193.82.

Insider Buying and Selling at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $170.00, for a total value of $850,000.00. Following the completion of the transaction, the chief technology officer owned 15,552 shares in the company, valued at $2,643,840. The trade was a 24.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna E. Epps sold 850 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the transaction, the director owned 4,892 shares of the company’s stock, valued at $843,625.40. This trade represents a 14.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,988 shares of company stock valued at $2,218,144. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Stock Up 3.5%

NASDAQ:TXRH opened at $183.54 on Tuesday. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $199.99. The company has a fifty day simple moving average of $166.71 and a two-hundred day simple moving average of $172.67. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 29.32, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business posted $1.70 earnings per share. Texas Roadhouse’s revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that Texas Roadhouse, Inc. will post 6.33 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is presently 47.92%.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand?cut steaks, fall?off?the?bone ribs, chicken, seafood and house specialties. Each restaurant features a Western?themed décor, open kitchens and a signature line dance presentation of fresh, made?from?scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family?friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high?quality steaks with an approachable, community?oriented atmosphere.