Oak Harvest Investment Services Invests $4.33 Million in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Oak Harvest Investment Services bought a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,002 shares of the restaurant operator’s stock, valued at approximately $4,331,000.

A number of other institutional investors have also added to or reduced their stakes in TXRH. Gries Financial LLC raised its position in shares of Texas Roadhouse by 5.8% during the fourth quarter. Gries Financial LLC now owns 1,923 shares of the restaurant operator’s stock worth $347,000 after purchasing an additional 105 shares during the period. R Squared Ltd acquired a new position in Texas Roadhouse during the fourth quarter worth $188,000. Pacer Advisors Inc. lifted its stake in shares of Texas Roadhouse by 16.0% in the fourth quarter. Pacer Advisors Inc. now owns 13,631 shares of the restaurant operator’s stock valued at $2,459,000 after buying an additional 1,880 shares in the last quarter. KBC Group NV grew its holdings in shares of Texas Roadhouse by 51.5% during the fourth quarter. KBC Group NV now owns 2,655 shares of the restaurant operator’s stock valued at $479,000 after buying an additional 903 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Texas Roadhouse by 43.1% during the fourth quarter. Blue Trust Inc. now owns 674 shares of the restaurant operator’s stock worth $119,000 after acquiring an additional 203 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $179.46, for a total transaction of $245,860.20. Following the sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,480 shares of company stock worth $668,603. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Stock Up 0.3 %

NASDAQ TXRH opened at $182.65 on Friday. The stock’s 50-day simple moving average is $186.50 and its two-hundred day simple moving average is $179.51. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.31 and a beta of 1.01. Texas Roadhouse, Inc. has a twelve month low of $125.58 and a twelve month high of $206.04.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.61 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.34%. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TXRH. UBS Group lifted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI lifted their target price on Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Loop Capital lowered their price target on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Truist Financial lifted their price objective on shares of Texas Roadhouse from $207.00 to $209.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Texas Roadhouse in a report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $191.26.

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.