Brighton Jones LLC Makes New $499,000 Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Brighton Jones LLC purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,993 shares of the restaurant operator's stock, valued at approximately $499,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in Texas Roadhouse in the fourth quarter valued at $155,239,000. Congress Asset Management Co. boosted its holdings in shares of Texas Roadhouse by 8,956.4% in the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after buying an additional 460,537 shares during the last quarter. FMR LLC grew its stake in shares of Texas Roadhouse by 44.8% in the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after buying an additional 402,465 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Texas Roadhouse by 255.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after buying an additional 373,812 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Texas Roadhouse by 19,250.9% during the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after buying an additional 323,415 shares during the last quarter. Institutional investors own 94.82% of the company's stock.

Texas Roadhouse Trading Down 0.8%

Shares of Texas Roadhouse stock traded down $1.61 on Wednesday, hitting $192.94. 1,044,588 shares of the company traded hands, compared to its average volume of 925,988. The firm's 50-day simple moving average is $179.82 and its 200 day simple moving average is $178.79. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04. The company has a market cap of $12.80 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.58 and a beta of 0.90.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 earnings per share. Analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio is 41.98%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TXRH. Wedbush lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. Stifel Nicolaus decreased their price objective on shares of Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. 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 report on Friday, February 21st. UBS Group upped their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, The Goldman Sachs Group increased their price target on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $191.71.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 800 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the transaction, the director now directly owns 4,632 shares in the company, valued at $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the sale, the director now directly owns 38,050 shares in the company, valued at approximately $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.