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

Cornerstone Investment Partners LLC raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,159 shares of the restaurant operator’s stock after buying an additional 56 shares during the period. Cornerstone Investment Partners LLC’s holdings in Texas Roadhouse were worth $390,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TXRH. True Wealth Design LLC acquired a new stake in Texas Roadhouse during the 3rd quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Texas Roadhouse during the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Texas Roadhouse during the 4th quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB lifted its holdings in 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 during the last quarter. Finally, First Horizon Advisors Inc. lifted 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 buying an additional 185 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $181.21 on Tuesday. The business’s fifty day moving average price is $178.58 and its two-hundred day moving average price is $180.67. The company has a market capitalization of $12.09 billion, a P/E ratio of 28.01, a PEG ratio of 1.23 and a beta of 1.02. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have commented on TXRH shares. Royal Bank of Canada reduced 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. Citigroup increased their target price on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a report on Wednesday, January 8th. Barclays reduced 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. Finally, Truist Financial reduced their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.73.

Insider Activity

In related news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at $1,794,600. The trade was a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Curtis Warfield sold 4,190 shares of Texas Roadhouse stock in a transaction 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 completion of the transaction, the director now owns 10,082 shares in the company, valued at $1,802,661.60. The trade was 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 have sold 11,470 shares of company stock worth $2,010,238. 0.50% of the stock is owned by company insiders.

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.