KLP Kapitalforvaltning AS Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

KLP Kapitalforvaltning AS bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the fourth quarter, Holdings Channel reports. The fund bought 16,400 shares of the restaurant operator’s stock, valued at approximately $2,959,000.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC bought a new position in Texas Roadhouse during the third quarter valued at $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Texas Roadhouse during the 4th quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse during the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB increased its holdings in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after acquiring an additional 65 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in Texas Roadhouse in the 4th quarter valued at about $64,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $175.53 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $146.75 and a fifty-two week high of $206.04. The stock has a market cap of $11.66 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The firm’s fifty day moving average price is $176.59 and its 200-day moving average price is $181.48.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. On average, analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a $0.68 dividend. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.55%. Texas Roadhouse’s payout ratio is presently 42.04%.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 2,700 shares of the business’s 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 firm’s stock in a transaction that occurred 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 owns 10,000 shares in the company, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,905 shares of company stock valued at $3,198,367 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a report on Wednesday, January 8th. Wedbush lowered their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Barclays cut their price target on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. Finally, Guggenheim decreased their price objective on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.91.

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.