Danske Bank A S Decreases Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Danske Bank A/S sharply reduced its stake in Texas Roadhouse by 91.6% in Q4, selling 6,517 shares and retaining just 600 shares valued at about $100,000.
• Several large institutions (e.g., Capital World Investors, Balyasny, Victory, Steadfast, UBS) substantially increased positions in TXRH, leaving 94.82% of the stock owned by institutional investors.
• Texas Roadhouse missed Q4 estimates (EPS $1.28 vs. $1.53 expected) and insiders sold ~12,988 shares (~$2.22M) over the past 90 days, while the company raised its quarterly dividend to $0.75 (annualized $3.00, ~1.9% yield).

Danske Bank A S reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 91.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the restaurant operator's stock after selling 6,517 shares during the period. Danske Bank A S's holdings in Texas Roadhouse were worth $100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXRH. Capital World Investors boosted its position in shares of Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock worth $371,658,000 after buying an additional 1,908,033 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Texas Roadhouse in the third quarter valued at about $157,310,000. Victory Capital Management Inc. grew its position in shares of Texas Roadhouse by 770.6% in the third quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator's stock valued at $161,540,000 after purchasing an additional 860,571 shares during the last quarter. Steadfast Capital Management LP grew its position in shares of Texas Roadhouse by 99.2% in the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after purchasing an additional 635,178 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Texas Roadhouse by 60.4% during the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator's stock worth $230,317,000 after purchasing an additional 522,509 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 4,450 shares of Texas Roadhouse 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 transaction, the president owned 13,778 shares in the company, valued at $2,356,038. This trade represents a 24.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total transaction of $850,000.00. Following the sale, the chief technology officer directly owned 15,552 shares of the company's stock, valued at $2,643,840. This represents a 24.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 12,988 shares of company stock worth $2,218,144. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Stock Performance

TXRH stock opened at $159.68 on Thursday. The stock has a market capitalization of $10.53 billion, a P/E ratio of 26.22, a PEG ratio of 1.81 and a beta of 0.77. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $199.99. The company has a 50 day moving average price of $167.27 and a two-hundred day moving average price of $172.78.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company earned $1.73 EPS. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. Research analysts forecast that Texas Roadhouse, Inc. will post 6.33 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.68. Texas Roadhouse's dividend payout ratio is currently 49.26%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TXRH. Sanford C. Bernstein set a $185.00 price objective on Texas Roadhouse in a research report on Wednesday, January 7th. Truist Financial lowered their target price on Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating on the stock in a report on Friday, February 20th. KeyCorp reissued a "sector weight" rating on shares of Texas Roadhouse in a report on Friday, February 20th. BMO Capital Markets restated a "market perform" rating and issued a $165.00 price objective on shares of Texas Roadhouse in a research report 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 research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $195.14.

Texas Roadhouse 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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