Northern Trust Corp Sells 5,694 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Northern Trust Corp has reduced its stake in Texas Roadhouse by 1.0%, selling 5,694 shares, and now holds approximately 588,712 shares valued at $98.1 million.
• The company recently reported earnings of $1.86 per share, which was below analyst expectations of $1.95, while revenue was up 12.7% year-over-year.
• Texas Roadhouse has announced a quarterly dividend of $0.68 per share, representing a 1.5% yield, expected to be paid on September 30th to investors of record on September 2nd.

Northern Trust Corp decreased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 588,712 shares of the restaurant operator's stock after selling 5,694 shares during the period. Northern Trust Corp owned approximately 0.89% of Texas Roadhouse worth $98,097,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of Texas Roadhouse by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock worth $458,000 after purchasing an additional 62 shares during the period. Optas LLC lifted its stake in Texas Roadhouse by 1.3% in the first quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock worth $869,000 after purchasing an additional 65 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Texas Roadhouse by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock valued at $2,271,000 after buying an additional 66 shares during the period. Coppell Advisory Solutions LLC grew its stake in shares of Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock valued at $35,000 after buying an additional 71 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Texas Roadhouse by 3.6% in the first quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock worth $385,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stephens boosted their price objective on Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Guggenheim lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. One equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $197.85.

Insiders Place Their Bets

In other news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the transaction, the president directly owned 15,261 shares of the company's stock, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 over the last 90 days. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

TXRH stock opened at $177.33 on Friday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The business has a 50-day moving average price of $184.28 and a 200 day moving average price of $178.78. The company has a market capitalization of $11.78 billion, a P/E ratio of 27.07, a PEG ratio of 2.42 and a beta of 0.86.

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

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Texas Roadhouse 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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