Texas Roadhouse, Inc. $TXRH Position Lowered by GW&K Investment Management LLC

Key Points

• GW&K Investment Management trimmed its Texas Roadhouse stake by 3.4%, selling 24,970 shares and now holding 720,232 shares (~1.08% of TXRH) valued at about $119.7 million, making TXRH its 8th-largest holding.
• Texas Roadhouse missed quarterly expectations, reporting EPS of $1.28 versus $1.53 expected and revenue of $1.48 billion versus $1.50 billion, with shares opening down about 1.4%.
• Dividend increased: the company raised its quarterly dividend to $0.75 (from $0.68), a $3.00 annualized payout (≈1.7% yield) with an ex-dividend/record date in mid-March and payment on March 31.

GW&K Investment Management LLC reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,232 shares of the restaurant operator's stock after selling 24,970 shares during the period. Texas Roadhouse makes up approximately 1.1% of GW&K Investment Management LLC's holdings, making the stock its 8th largest holding. GW&K Investment Management LLC owned approximately 1.08% of Texas Roadhouse worth $119,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Caldwell Trust Co acquired a new position in Texas Roadhouse during the second quarter valued at approximately $28,000. Root Financial Partners LLC purchased a new position in shares of Texas Roadhouse in the 3rd quarter valued at $36,000. Salomon & Ludwin LLC lifted its holdings in shares of Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator's stock valued at $50,000 after acquiring an additional 81 shares in the last quarter. LRI Investments LLC boosted its position in Texas Roadhouse by 100.0% during the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator's stock worth $50,000 after purchasing an additional 150 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Texas Roadhouse by 100.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 355 shares of the restaurant operator's stock worth $59,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Wall Street Analyst Weigh In

TXRH has been the topic of a number of recent research reports. Mizuho boosted their price objective on Texas Roadhouse from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. UBS Group reaffirmed a "buy" rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, January 22nd. Sanford C. Bernstein set a $185.00 target price on shares of Texas Roadhouse in a research report on Wednesday, January 7th. Finally, Truist Financial lowered their price target on shares of Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating for the company in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $196.55.

Texas Roadhouse Stock Down 1.4%

Shares of TXRH opened at $178.70 on Thursday. The firm has a market cap of $11.82 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.96 and a beta of 0.86. The business's 50 day moving average is $182.41 and its two-hundred day moving average is $173.71. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99.

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 (EPS) 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $1.73 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.75 dividend. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is currently 44.66%.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the completion of the transaction, the chief executive officer directly owned 91,774 shares in the company, valued at approximately $17,987,704. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.