Palisade Capital Management LP Trims Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Palisade Capital Management LP trimmed its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,674 shares of the restaurant operator's stock after selling 1,930 shares during the period. Texas Roadhouse accounts for 1.0% of Palisade Capital Management LP's investment portfolio, making the stock its 21st biggest position. Palisade Capital Management LP owned about 0.32% of Texas Roadhouse worth $35,938,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TXRH. Coppell Advisory Solutions LLC lifted its holdings in shares of Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after acquiring an additional 71 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Texas Roadhouse in the 4th quarter worth approximately $36,000. Park Place Capital Corp boosted its stake in Texas Roadhouse by 459.1% in the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after buying an additional 303 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Texas Roadhouse by 41.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after buying an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Texas Roadhouse by 153.9% during the first quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator's stock valued at $76,000 after acquiring an additional 277 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Donna E. Epps sold 800 shares of the firm's 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 completion of the sale, the director owned 4,632 shares of the company's stock, valued at $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The sale 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 the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Price Performance

NASDAQ:TXRH traded down $2.63 during mid-day trading on Thursday, hitting $188.50. 405,473 shares of the company's stock were exchanged, compared to its average volume of 935,658. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The business has a fifty day moving average price of $185.75 and a 200 day moving average price of $178.52. The company has a market cap of $12.51 billion, a PE ratio of 29.09, a P/E/G ratio of 2.56 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business earned $1.69 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.44%. Texas Roadhouse's dividend payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXRH. Stephens reaffirmed an "equal weight" rating and issued a $170.00 price objective on shares of Texas Roadhouse in a research note on Tuesday, June 10th. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the company an "outperform" rating in a research note on Monday, April 7th. Wedbush lifted their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Stifel Nicolaus dropped their target price on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Truist Financial set a $212.00 price target on Texas Roadhouse and gave the stock a "buy" rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and an average target price of $192.05.

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.