WCM Investment Management LLC Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

WCM Investment Management LLC decreased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 143,482 shares of the restaurant operator's stock after selling 10,503 shares during the quarter. WCM Investment Management LLC owned about 0.21% of Texas Roadhouse worth $17,588,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Comerica Bank bought a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $10,585,000. Bamco Inc. NY boosted its position in shares of Texas Roadhouse by 16.9% in the third quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator's stock valued at $28,466,000 after acquiring an additional 42,755 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Texas Roadhouse by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator's stock valued at $72,523,000 after acquiring an additional 8,219 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Texas Roadhouse in the third quarter valued at $8,748,000. Finally, Boston Trust Walden Corp raised its stake in shares of Texas Roadhouse by 12.9% in the fourth quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator's stock valued at $94,997,000 after purchasing an additional 89,019 shares in the last quarter. Institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler upped their target price on Texas Roadhouse from $110.00 to $136.00 and gave the company a "neutral" rating in a research note on Tuesday, February 20th. Benchmark assumed coverage on Texas Roadhouse in a research note on Wednesday. They issued a "hold" rating for the company. Northcoast Research lowered Texas Roadhouse from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 20th. Morgan Stanley increased their price objective on Texas Roadhouse from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Truist Financial increased their price objective on Texas Roadhouse from $152.00 to $168.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of "Hold" and an average price target of $136.05.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,064 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total transaction of $459,814.48. Following the sale, the president now owns 15,261 shares of the company's stock, valued at $2,290,218.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the sale, the director now owns 4,142 shares of the company's stock, valued at approximately $621,175.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Regina A. Tobin sold 3,064 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $150.07, for a total value of $459,814.48. Following the transaction, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders have sold a total of 12,382 shares of company stock valued at $1,843,145 over the last 90 days. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Performance

TXRH traded down $0.34 during midday trading on Friday, reaching $148.63. 641,505 shares of the company were exchanged, compared to its average volume of 603,483. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $157.12. The stock has a market capitalization of $9.93 billion, a P/E ratio of 32.81, a PEG ratio of 1.63 and a beta of 0.99. The stock's 50-day simple moving average is $147.50 and its 200 day simple moving average is $123.47.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business earned $0.89 earnings per share. The company's revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Texas Roadhouse, Inc. will post 5.73 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.61 per share. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.64%. This is a positive change from Texas Roadhouse's previous quarterly dividend of $0.55. Texas Roadhouse's dividend payout ratio (DPR) is currently 53.86%.

Texas Roadhouse 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.