Truist Financial Corp Reduces Position in Texas Roadhouse, Inc. $TXRH

Truist Financial Corp lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,602 shares of the restaurant operator's stock after selling 5,324 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Texas Roadhouse worth $8,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group boosted its stake in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after acquiring an additional 134 shares during the last quarter. Bogart Wealth LLC bought a new stake in shares of Texas Roadhouse during the 1st quarter valued at $33,000. WPG Advisers LLC bought a new stake in shares of Texas Roadhouse during the 1st quarter valued at $59,000. Farther Finance Advisors LLC raised its position in shares of Texas Roadhouse by 22.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator's stock valued at $59,000 after purchasing an additional 58 shares during the period. Finally, Park Place Capital Corp raised its position in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $166.49 on Monday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 2.28 and a beta of 0.82. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The firm has a 50-day moving average of $171.82 and a two-hundred day moving average of $177.14.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $1.79 EPS. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $0.68 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse's payout ratio is currently 41.53%.

Analysts Set New Price Targets

Several brokerages have recently commented on TXRH. The Goldman Sachs Group decreased their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings restated a "buy (b)" rating on shares of Texas Roadhouse in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Melius initiated coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They issued a "buy" rating and a $235.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.10.

Insider Activity

In other news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the sale, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the transaction, the chief technology officer owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by corporate insiders.

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.

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