Readystate Asset Management LP Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Readystate Asset Management LP lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,610 shares of the restaurant operator’s stock after selling 2,290 shares during the period. Readystate Asset Management LP’s holdings in Texas Roadhouse were worth $930,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Winslow Asset Management Inc. acquired a new position in Texas Roadhouse during the fourth quarter worth $224,000. Public Employees Retirement System of Ohio grew its holdings in Texas Roadhouse by 64.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 53,320 shares of the restaurant operator’s stock valued at $6,517,000 after purchasing an additional 20,809 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Texas Roadhouse in the fourth quarter valued at $209,000. Profund Advisors LLC acquired a new stake in Texas Roadhouse in the fourth quarter valued at $265,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Texas Roadhouse in the fourth quarter valued at $3,673,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Activity

In other news, Director Donna E. Epps sold 670 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Donna E. Epps sold 670 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Regina A. Tobin sold 3,064 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now owns 15,261 shares of the company’s stock, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,382 shares of company stock worth $1,843,145. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Trading Up 0.7 %

Shares of Texas Roadhouse stock traded up $1.07 during trading hours on Thursday, reaching $150.46. The stock had a trading volume of 774,014 shares, compared to its average volume of 789,556. The firm has a 50 day simple moving average of $148.67 and a two-hundred day simple moving average of $124.62. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 1.65 and a beta of 0.99. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $157.12.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 5.74 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is 53.86%.

Analysts Set New Price Targets

Several research firms have weighed in on TXRH. Benchmark began coverage on Texas Roadhouse in a report on Wednesday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets upped their target price on Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Piper Sandler upped their price objective on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group upped their price objective on Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $136.05.

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.