Quarry LP Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Quarry LP trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 27.6% in the third quarter, Holdings Channel reports. The firm owned 503 shares of the restaurant operator’s stock after selling 192 shares during the period. Quarry LP’s holdings in Texas Roadhouse were worth $89,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its stake in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after purchasing an additional 430,814 shares in the last quarter. FMR LLC raised its holdings in shares of Texas Roadhouse by 81.6% during the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after buying an additional 403,720 shares during the period. Erste Asset Management GmbH acquired a new position in Texas Roadhouse during the 3rd quarter worth approximately $66,609,000. Fiera Capital Corp purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $41,670,000. Finally, Bank of Montreal Can grew its position in Texas Roadhouse by 2,216.1% in the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock valued at $30,831,000 after acquiring an additional 168,669 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXRH has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on shares of Texas Roadhouse in a report on Thursday. They issued a “neutral” rating and a $213.00 price objective on the stock. Truist Financial raised their target price on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Loop Capital cut their price target on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Citigroup raised their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and a consensus target price of $190.09.

Texas Roadhouse Stock Up 0.1 %

Shares of TXRH stock opened at $196.56 on Friday. The business has a 50 day moving average of $189.31 and a two-hundred day moving average of $176.14. The company has a market cap of $13.11 billion, a P/E ratio of 33.77, a PEG ratio of 1.70 and a beta of 0.98. Texas Roadhouse, Inc. has a 52 week low of $112.87 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. Texas Roadhouse’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. Analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 annualized dividend and a yield of 1.24%. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares in the company, valued at $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at $3,305,332.92. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.