T. Rowe Price Investment Management Inc. Decreases Stock Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• T. Rowe Price Investment Management trimmed its Texas Roadhouse stake by 0.6% in the fourth quarter, though it still held 2.3 million shares valued at about $381.7 million.
• Texas Roadhouse reported strong quarterly results, with EPS of $1.87 beating estimates, while revenue rose 10.5% year over year to $1.63 billion.
• The company also declared a $0.75 quarterly dividend and received mixed but generally positive analyst attention, with the consensus rating sitting at Hold and an average price target of $196.36.

T. Rowe Price Investment Management Inc. reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,299,231 shares of the restaurant operator's stock after selling 13,675 shares during the period. T. Rowe Price Investment Management Inc. owned 3.48% of Texas Roadhouse worth $381,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TXRH. Compound Planning Inc. increased its position in Texas Roadhouse by 5.6% during the fourth quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator's stock worth $234,000 after purchasing an additional 75 shares during the last quarter. Corient Private Wealth LLC raised its stake in Texas Roadhouse by 125.4% during the fourth quarter. Corient Private Wealth LLC now owns 33,574 shares of the restaurant operator's stock worth $5,573,000 after purchasing an additional 18,680 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Texas Roadhouse by 79.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,060 shares of the restaurant operator's stock valued at $3,496,000 after purchasing an additional 9,334 shares during the last quarter. Vident Advisory LLC boosted its holdings in Texas Roadhouse by 7.4% in the 4th quarter. Vident Advisory LLC now owns 1,401 shares of the restaurant operator's stock valued at $233,000 after purchasing an additional 97 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Texas Roadhouse by 15.5% in the 4th quarter. NewEdge Advisors LLC now owns 3,162 shares of the restaurant operator's stock valued at $525,000 after buying an additional 424 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the sale, the director directly owned 30,900 shares of the company's stock, valued at $5,504,526. This represents a 3.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider owned 10,326 shares in the company, valued at approximately $1,841,538.84. This trade represents a 8.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 5,728 shares of company stock valued at $1,033,847. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Price Performance

TXRH stock opened at $177.75 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $11.68 billion, a PE ratio of 28.39, a P/E/G ratio of 1.90 and a beta of 0.79. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $197.00. The business's fifty day moving average price is $169.09 and its 200 day moving average price is $173.55.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company earned $1.70 EPS. Texas Roadhouse's revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.42 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse's dividend payout ratio is currently 47.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXRH. Guggenheim restated a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a report on Monday, May 18th. Royal Bank Of Canada upgraded Texas Roadhouse from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $180.00 to $210.00 in a report on Friday, May 15th. Wells Fargo & Company lowered their price objective on Texas Roadhouse from $220.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Finally, BTIG Research restated a "buy" rating and issued a $200.00 target price on shares of Texas Roadhouse in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $196.36.

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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