Texas Roadhouse, Inc. $TXRH Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Texas Roadhouse by 2.4%, owning 74,423 shares valued at $12.4 million after selling 1,831 shares in the first quarter.
• Texas Roadhouse reported a quarterly EPS of $1.86, missing the consensus estimate by $0.09 but showing a revenue increase of 12.7% year-over-year.
• The company announced a $0.68 quarterly dividend payable on September 30th, with a yield of 1.6% and a payout ratio of 41.53%.

Corebridge Financial Inc. cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,423 shares of the restaurant operator's stock after selling 1,831 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Texas Roadhouse worth $12,401,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TXRH. Axiom Investors LLC DE lifted its holdings in Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after acquiring an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after buying an additional 1,089,256 shares during the period. Congress Asset Management Co. raised its stake in shares of Texas Roadhouse by 8,956.4% during the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after buying an additional 460,537 shares during the period. GAMMA Investing LLC raised its stake in shares of Texas Roadhouse by 19,250.9% during the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after buying an additional 323,415 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter worth approximately $36,208,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $174.72 on Wednesday. The business has a fifty day moving average price of $183.56 and a 200 day moving average price of $178.76. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The company has a market cap of $11.61 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.42 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $1.79 earnings per share. The firm's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts predict 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 will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is currently 41.53%.

Wall Street Analyst Weigh In

TXRH has been the subject of several research analyst reports. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group upped their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. UBS Group upped their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Morgan Stanley upped their target price on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Guggenheim upped their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus price target of $197.85.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the company'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 sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by insiders.

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.

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