Cetera Investment Advisers Raises Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Cetera Investment Advisers grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 60.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,159 shares of the restaurant operator's stock after purchasing an additional 2,319 shares during the period. Cetera Investment Advisers' holdings in Texas Roadhouse were worth $1,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TXRH. Norges Bank purchased a new stake in shares of Texas Roadhouse during the 4th quarter valued at $155,239,000. FMR LLC raised its stake in Texas Roadhouse by 44.8% in the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after acquiring an additional 402,465 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Texas Roadhouse by 255.1% in 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 acquiring an additional 373,812 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Texas Roadhouse in the 4th quarter worth $55,177,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Texas Roadhouse by 29.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator's stock worth $147,866,000 after acquiring an additional 184,250 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $188.73 on Friday. The business's 50-day moving average is $170.76 and its two-hundred day moving average is $179.57. The company has a market capitalization of $12.52 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.23 and a beta of 0.87. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its 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). Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business earned $1.69 earnings per share. Texas Roadhouse's revenue was up 11.8% on a year-over-year basis. Analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.98%.

Insider Activity

In other news, Director Curtis Warfield sold 3,281 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total transaction of $602,621.27. Following the sale, the director now directly owns 6,801 shares in the company, valued at $1,249,139.67. This trade represents a 32.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the sale, the director now owns 38,050 shares in the company, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,535 shares of company stock worth $3,140,127 in the last ninety days. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

TXRH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Barclays reduced their target price on Texas Roadhouse from $179.00 to $175.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Truist Financial reduced their target price on Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, February 21st. UBS Group reduced their target price on Texas Roadhouse from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Robert W. Baird set a $180.00 target price on Texas Roadhouse and gave the stock an "outperform" rating in a research note on Monday, April 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Texas Roadhouse presently has an average rating of "Moderate Buy" and a consensus price target of $191.62.

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.

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