Algert Global LLC Has $2.40 Million Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Algert Global LLC reduced its stake in Texas Roadhouse, Inc. by 45.5%, selling 12,030 shares and decreasing their holdings to approximately $2.40 million.
• Analysts have raised price targets for Texas Roadhouse, with Guggenheim increasing its target to $210.00 and Melius initiating coverage with a target of $235.00.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, set to be paid on September 30th, resulting in an annual yield of 1.6%.

Algert Global LLC lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 45.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,412 shares of the restaurant operator's stock after selling 12,030 shares during the period. Algert Global LLC's holdings in Texas Roadhouse were worth $2,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new stake in shares of Texas Roadhouse during the 1st quarter worth approximately $33,000. Coppell Advisory Solutions LLC boosted its holdings in Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after purchasing an additional 71 shares during the period. Park Place Capital Corp boosted its holdings in Texas Roadhouse by 459.1% in the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after purchasing an additional 303 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Roadhouse by 41.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after purchasing an additional 112 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Texas Roadhouse by 153.9% during the 1st quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator's stock valued at $76,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the transaction, the director owned 34,550 shares of the company's stock, valued at $5,979,223. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Guggenheim raised their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Melius initiated coverage on shares of Texas Roadhouse in a research report on Monday, July 14th. They issued a "buy" rating and a $235.00 price objective on the stock. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Finally, Citigroup boosted their price objective on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.85.

Texas Roadhouse Trading Up 0.4%

Shares of TXRH stock opened at $173.93 on Friday. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The stock has a market cap of $11.56 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.37 and a beta of 0.86. The company has a 50 day simple moving average of $184.38 and a two-hundred day simple moving average of $178.83.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $1.79 earnings per share. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

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.

Want to see what other hedge funds are holding TXRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.