Freestone Grove Partners LP Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Freestone Grove Partners LP bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,589 shares of the restaurant operator's stock, valued at approximately $287,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Texas Roadhouse by 14.4% in the 3rd quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator's stock worth $208,539,000 after purchasing an additional 148,462 shares during the period. Synovus Financial Corp boosted its position in shares of Texas Roadhouse by 4.8% during the third quarter. Synovus Financial Corp now owns 6,711 shares of the restaurant operator's stock valued at $1,185,000 after purchasing an additional 305 shares in the last quarter. Franklin Resources Inc. grew its stake in Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock worth $157,375,000 after purchasing an additional 385,998 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Texas Roadhouse in the third quarter worth $245,000. Finally, GAMMA Investing LLC lifted its position in Texas Roadhouse by 40.2% during the fourth quarter. GAMMA Investing LLC now owns 1,680 shares of the restaurant operator's stock valued at $303,000 after buying an additional 482 shares during the period. Institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

TXRH has been the subject of several research reports. Truist Financial decreased their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Robert W. Baird set a $180.00 price target on Texas Roadhouse and gave the stock an "outperform" rating in a research report on Monday, April 7th. Wedbush raised their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Guggenheim dropped their target price on Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup downgraded Texas Roadhouse from a "buy" rating to a "neutral" rating and reduced their price target for the company from $213.00 to $164.00 in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and an average price target of $191.81.

Insider Buying and Selling

In related news, insider Christopher C. Colson sold 580 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $181.94, for a total transaction of $105,525.20. Following the completion of the sale, the insider now directly owns 12,000 shares of the company's stock, valued at approximately $2,183,280. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,050 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $170.66, for a total value of $349,853.00. Following the transaction, the chief technology officer now directly owns 17,162 shares in the company, valued at approximately $2,928,866.92. The trade was a 10.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,535 shares of company stock worth $2,952,507. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Price Performance

TXRH traded up $1.29 during trading on Thursday, reaching $172.55. 1,171,107 shares of the company's stock were exchanged, compared to its average volume of 882,481. The company's fifty day simple moving average is $168.50 and its 200-day simple moving average is $179.45. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The stock has a market capitalization of $11.47 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.09). Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Texas Roadhouse's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. Equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's dividend payout ratio is presently 42.04%.

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.