10,058 Shares in Texas Roadhouse, Inc. $TXRH Acquired by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group bought a new position of 10,058 shares of Texas Roadhouse (about $1.67M), with institutional investors owning roughly 94.82% of the stock.
• Corporate insiders have been net sellers recently: the president and a director sold shares (4,450 and 988 respectively) and insiders sold 17,988 shares worth about $3.20M in the last three months, leaving insiders with ~0.50% ownership.
• Texas Roadhouse reported a quarterly EPS miss ($1.28 vs. $1.53 est.) and slight revenue shortfall, but also raised its quarterly dividend to $0.75 (annualized $3.00, ~1.8% yield).

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,058 shares of the restaurant operator's stock, valued at approximately $1,670,000.

A number of other large investors have also bought and sold shares of TXRH. Princeton Global Asset Management LLC bought a new position in Texas Roadhouse in the 4th quarter valued at $31,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Texas Roadhouse during the third quarter worth $33,000. Root Financial Partners LLC acquired a new position in shares of Texas Roadhouse during the third quarter valued at $36,000. Salomon & Ludwin LLC lifted its stake in shares of Texas Roadhouse by 37.2% during the third quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 81 shares during the period. Finally, LRI Investments LLC lifted its stake in shares of Texas Roadhouse by 100.0% during the third quarter. LRI Investments LLC now owns 300 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 150 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 4,450 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the sale, the president directly owned 13,778 shares in the company, valued at approximately $2,356,038. This trade represents a 24.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hugh J. Carroll sold 988 shares of Texas Roadhouse stock in a transaction on Monday, March 16th. The stock was sold at an average price of $170.96, for a total transaction of $168,908.48. Following the transaction, the director directly owned 866 shares in the company, valued at approximately $148,051.36. This represents a 53.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 17,988 shares of company stock valued at $3,198,144. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BTIG Research reaffirmed a "buy" rating and set a $200.00 price target on shares of Texas Roadhouse in a research note on Friday, February 20th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Truist Financial cut their price target on Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating on the stock in a research note on Friday, February 20th. Citigroup cut their price target on Texas Roadhouse from $190.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Finally, Zacks Research raised Texas Roadhouse from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.67.

Texas Roadhouse Trading Up 3.2%

NASDAQ:TXRH opened at $165.08 on Friday. Texas Roadhouse, Inc. has a 1-year low of $156.00 and a 1-year high of $199.99. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.74 and a beta of 0.88. The business's 50-day moving average price is $172.32 and its two-hundred day moving average price is $173.35.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.Texas Roadhouse's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.75 per share. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, March 17th. Texas Roadhouse's dividend payout ratio is presently 49.26%.

Texas Roadhouse Company Profile

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.

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