Assetmark Inc. Has $746,000 Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Assetmark Inc. has reduced its holdings in Texas Roadhouse, Inc. by 56.2%, now owning 4,475 shares valued at $746,000 following the sale of 5,747 shares.
• Several large investors increased their stakes in Texas Roadhouse, including Congress Asset Management Co., which grew its position by 8,956.4%, now holding 465,679 shares worth $77.6 million.
• Texas Roadhouse recently announced a quarterly dividend of $0.68 per share, reflecting an annualized yield of 1.5% and a payout ratio of 41.98%.

Assetmark Inc. decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 56.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,475 shares of the restaurant operator's stock after selling 5,747 shares during the quarter. Assetmark Inc.'s holdings in Texas Roadhouse were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. increased its holdings in 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 worth $77,596,000 after acquiring an additional 460,537 shares in the last quarter. FMR LLC increased its stake in Texas Roadhouse by 44.8% during the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after buying an additional 402,465 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Texas Roadhouse by 255.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock worth $93,888,000 after buying an additional 373,812 shares in the last quarter. GAMMA Investing LLC increased its stake in Texas Roadhouse by 19,250.9% during the 1st 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Texas Roadhouse by 55.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 465,819 shares of the restaurant operator's stock worth $84,048,000 after buying an additional 165,762 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TXRH. Stifel Nicolaus upped their price target on Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Melius started coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 price target on the stock. Finally, Morgan Stanley raised their price target on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $196.85.

Insider Buying and Selling

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

Texas Roadhouse Stock Up 1.0%

Shares of NASDAQ:TXRH traded up $1.82 during trading on Monday, reaching $184.79. 678,424 shares of the company traded hands, compared to its average volume of 779,187. The firm has a fifty day simple moving average of $188.96 and a 200 day simple moving average of $179.16. The firm has a market cap of $12.26 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.58 and a beta of 0.86. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.69 EPS. As a group, research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Texas Roadhouse's payout ratio is 41.98%.

About Texas Roadhouse

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.