TCG Advisory Services LLC Invests $4.86 Million in Texas Roadhouse, Inc. (NASDAQ:TXRH)

TCG Advisory Services LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,787 shares of the restaurant operator's stock, valued at approximately $4,863,000. TCG Advisory Services LLC owned 0.06% of Texas Roadhouse at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Comerica Bank bought a new position in Texas Roadhouse in the 3rd quarter worth $10,585,000. Bamco Inc. NY grew its position in shares of Texas Roadhouse by 16.9% during the third quarter. Bamco Inc. NY now owns 296,213 shares of the restaurant operator's stock worth $28,466,000 after purchasing an additional 42,755 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Texas Roadhouse by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 754,658 shares of the restaurant operator's stock valued at $72,523,000 after purchasing an additional 8,219 shares during the period. Assenagon Asset Management S.A. purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $8,748,000. Finally, Boston Trust Walden Corp boosted its stake in Texas Roadhouse by 12.9% in the 4th quarter. Boston Trust Walden Corp now owns 777,202 shares of the restaurant operator's stock worth $94,997,000 after purchasing an additional 89,019 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock an "equal weight" rating in a report on Friday. Barclays boosted their price target on shares of Texas Roadhouse from $138.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Friday. Truist Financial raised their price objective on Texas Roadhouse from $170.00 to $181.00 and gave the company a "buy" rating in a research report on Friday. Northcoast Research downgraded Texas Roadhouse from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 20th. Finally, Citigroup increased their price target on Texas Roadhouse from $178.00 to $183.00 and gave the company a "buy" rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Texas Roadhouse presently has a consensus rating of "Hold" and an average target price of $151.30.

Texas Roadhouse Stock Up 3.6 %

TXRH stock traded up $5.71 during trading on Friday, hitting $163.61. The company had a trading volume of 1,640,850 shares, compared to its average volume of 835,599. The firm has a market capitalization of $10.93 billion, a P/E ratio of 33.12, a PEG ratio of 1.77 and a beta of 1.00. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $170.39. The company has a 50 day simple moving average of $152.50 and a 200-day simple moving average of $130.02.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 29.49%. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $1.28 earnings per share. The company's quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 5.9 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. The ex-dividend date 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 1.49%. Texas Roadhouse's dividend payout ratio (DPR) is currently 49.39%.

Insider Activity at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 5,000 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares of the company's stock, valued at approximately $13,732,071.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Texas Roadhouse news, Director Curtis Warfield sold 2,365 shares of the firm's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now owns 13,397 shares of the company's stock, valued at $1,991,865.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company's stock, valued at $13,732,071.30. 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 ninety days. 0.50% of the stock is owned by company 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.