GPM Growth Investors Inc. Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

GPM Growth Investors Inc. lessened its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,475 shares of the restaurant operator’s stock after selling 331 shares during the quarter. Texas Roadhouse accounts for approximately 2.0% of GPM Growth Investors Inc.’s portfolio, making the stock its 17th biggest position. GPM Growth Investors Inc.’s holdings in Texas Roadhouse were worth $4,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Texas Roadhouse by 158.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wedbush cut their price target on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Truist Financial cut their price target on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Stephens cut their price target on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Guggenheim cut their price target 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, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Texas Roadhouse has a consensus rating of “Moderate Buy” and a consensus target price of $192.73.

Insiders Place Their Bets

In other news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the transaction, the president now directly owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 4,190 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $178.80, for a total value of $749,172.00. Following the transaction, the director now directly owns 10,082 shares of the company’s stock, valued at approximately $1,802,661.60. This trade represents a 29.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Up 0.5 %

Shares of NASDAQ TXRH opened at $185.86 on Thursday. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The business has a 50-day moving average price of $178.69 and a 200 day moving average price of $180.83. The stock has a market cap of $12.40 billion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.46%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

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.