Gateway Investment Advisers LLC Trims Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Gateway Investment Advisers LLC reduced its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,753 shares of the restaurant operator's stock after selling 1,762 shares during the period. Gateway Investment Advisers LLC's holdings in Texas Roadhouse were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXRH. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $30,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Texas Roadhouse by 2.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,321 shares of the restaurant operator's stock worth $2,404,000 after purchasing an additional 267 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in Texas Roadhouse in the fourth quarter valued at $160,000. Portfolio Design Labs LLC raised its stake in Texas Roadhouse by 52.1% in the fourth quarter. Portfolio Design Labs LLC now owns 13,736 shares of the restaurant operator's stock valued at $2,478,000 after buying an additional 4,705 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Texas Roadhouse by 230.4% during the 4th quarter. Legato Capital Management LLC now owns 8,009 shares of the restaurant operator's stock worth $1,445,000 after buying an additional 5,585 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Down 0.7%

TXRH stock traded down $1.33 during trading on Wednesday, hitting $187.84. The company had a trading volume of 651,155 shares, compared to its average volume of 916,220. The firm has a 50-day moving average price of $176.68 and a 200-day moving average price of $179.31. The firm has a market cap of $12.46 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89. 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 issued its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the company posted $1.69 earnings per share. The business's quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate 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 issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio (DPR) is currently 41.98%.

Analysts Set New Price Targets

A number of research firms have recently commented on TXRH. UBS Group increased their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group upped their price target on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Guggenheim cut their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Truist Financial reduced their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Finally, Stephens restated an "equal weight" rating and issued a $170.00 target price on shares of Texas Roadhouse in a report on Tuesday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $191.71.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 1,000 shares of the business's stock in a transaction dated 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 now owns 38,050 shares of the company's stock, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the sale, the director now owns 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.

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.