Pinebridge Investments L.P. Raises Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Pinebridge Investments L.P. raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 31.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 55,734 shares of the restaurant operator's stock after acquiring an additional 13,252 shares during the period. Pinebridge Investments L.P. owned approximately 0.08% of Texas Roadhouse worth $10,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cornerstone Investment Partners LLC boosted its position in Texas Roadhouse by 2.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock valued at $390,000 after acquiring an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. lifted its stake in Texas Roadhouse by 3.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator's stock valued at $289,000 after buying an additional 60 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after buying an additional 65 shares in the last quarter. Trek Financial LLC grew its position in shares of Texas Roadhouse by 5.9% during the 4th quarter. Trek Financial LLC now owns 1,407 shares of the restaurant operator's stock worth $254,000 after buying an additional 79 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in shares of Texas Roadhouse by 9.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 960 shares of the restaurant operator's stock valued at $173,000 after acquiring an additional 80 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Roadhouse

In other news, Director Curtis Warfield sold 4,190 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the completion of the transaction, the director now owns 10,082 shares of the company's stock, valued at approximately $1,802,661.60. The trade was a 29.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory N. Moore sold 2,700 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,535 shares of company stock valued at $2,952,507. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock traded down $0.55 during trading hours on Wednesday, reaching $164.12. The company had a trading volume of 195,465 shares, compared to its average volume of 882,434. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The firm has a market cap of $10.91 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. The business has a fifty day simple moving average of $169.21 and a 200 day simple moving average of $179.92.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. On average, research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Tuesday, March 18th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's dividend payout ratio (DPR) is 42.04%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Guggenheim lowered their price target on Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Citigroup downgraded shares of Texas Roadhouse from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $213.00 to $164.00 in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their target price on shares of Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Wedbush upped their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, March 28th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $192.29.

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.