Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Acquired by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC grew its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,159 shares of the restaurant operator’s stock after purchasing an additional 56 shares during the period. Cornerstone Investment Partners LLC’s holdings in Texas Roadhouse were worth $390,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AMJ Financial Wealth Management grew its holdings in Texas Roadhouse by 76.6% during the fourth quarter. AMJ Financial Wealth Management now owns 3,501 shares of the restaurant operator’s stock worth $632,000 after acquiring an additional 1,518 shares during the period. Bahl & Gaynor Inc. grew its holdings in Texas Roadhouse by 11.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 181,082 shares of the restaurant operator’s stock worth $32,673,000 after acquiring an additional 19,317 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Texas Roadhouse by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 596,719 shares of the restaurant operator’s stock worth $107,666,000 after acquiring an additional 5,740 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Texas Roadhouse by 30.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 877 shares of the restaurant operator’s stock worth $158,000 after acquiring an additional 204 shares during the period. Finally, LGT Fund Management Co Ltd. acquired a new position in Texas Roadhouse during the fourth quarter worth $2,406,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 1.6 %

NASDAQ TXRH opened at $181.21 on Tuesday. The company has a market capitalization of $12.09 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The business’s 50-day moving average price is $178.58 and its 200 day moving average price is $180.67. Texas Roadhouse, Inc. has a twelve month low of $146.75 and a twelve month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly 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. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.50%. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 2,700 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $168.26, for a total value of $454,302.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,470 shares of company stock worth $2,010,238 over the last three months. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TXRH shares. Truist Financial dropped their price objective on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group started coverage on Texas Roadhouse in a report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price objective on the stock. Stifel Nicolaus lowered their target price on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Royal Bank of Canada lowered their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Finally, Barclays lowered their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse presently has an average rating of “Moderate Buy” and an average price target of $192.73.

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.