Ninety One UK Ltd Lowers Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Ninety One UK Ltd trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,933 shares of the restaurant operator's stock after selling 161,444 shares during the period. Ninety One UK Ltd owned approximately 0.97% of Texas Roadhouse worth $78,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Texas Roadhouse by 1.5% in the 1st quarter. BlackRock Inc. now owns 8,506,175 shares of the restaurant operator's stock valued at $919,177,000 after purchasing an additional 122,241 shares during the last quarter. Macquarie Group Ltd. increased its position in Texas Roadhouse by 8.9% during the second quarter. Macquarie Group Ltd. now owns 2,560,882 shares of the restaurant operator's stock valued at $187,457,000 after acquiring an additional 208,566 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Texas Roadhouse by 82.5% in the first quarter. Bank of America Corp DE now owns 2,359,514 shares of the restaurant operator's stock valued at $254,969,000 after acquiring an additional 1,066,581 shares during the period. State Street Corp lifted its holdings in shares of Texas Roadhouse by 1.6% in the 1st quarter. State Street Corp now owns 2,203,949 shares of the restaurant operator's stock worth $238,159,000 after acquiring an additional 34,829 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Texas Roadhouse by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,807,430 shares of the restaurant operator's stock worth $173,694,000 after purchasing an additional 29,506 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TXRH shares. Benchmark assumed coverage on shares of Texas Roadhouse in a research note on Wednesday, April 10th. They issued a "hold" rating for the company. Robert W. Baird upgraded Texas Roadhouse from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Piper Sandler increased their target price on Texas Roadhouse from $110.00 to $136.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 20th. UBS Group boosted their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Texas Roadhouse from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $136.05.

Texas Roadhouse Stock Up 0.7 %

Shares of NASDAQ TXRH traded up $1.07 during mid-day trading on Thursday, reaching $150.46. 774,014 shares of the company were exchanged, compared to its average volume of 789,556. The firm has a 50-day moving average of $148.67 and a 200 day moving average of $124.62. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $157.12. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 1.65 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 5.74 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 of this dividend was Tuesday, March 12th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. Texas Roadhouse's dividend payout ratio is presently 53.86%.

Insider Activity

In related news, insider Christopher C. Colson sold 405 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $149.05, for a total transaction of $60,365.25. Following the transaction, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Christopher C. Colson sold 405 shares of Texas Roadhouse stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $149.05, for a total value of $60,365.25. Following the completion of the sale, the insider now directly owns 8,500 shares in the company, valued at approximately $1,266,925. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 2,365 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total transaction of $351,628.20. Following the sale, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,382 shares of company stock worth $1,843,145. Insiders own 0.50% of the company's stock.

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.