Renaissance Technologies LLC Lowers Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Renaissance Technologies LLC lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 682,072 shares of the restaurant operator’s stock after selling 44,900 shares during the period. Renaissance Technologies LLC’s holdings in Texas Roadhouse were worth $123,066,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the fourth quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Texas Roadhouse in the 4th quarter worth $36,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after purchasing an additional 65 shares during the period. VisionPoint Advisory Group LLC purchased a new stake in Texas Roadhouse during the fourth quarter valued at approximately $64,000. Finally, Asset Planning Inc purchased a new stake in Texas Roadhouse in the fourth quarter worth about $74,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of analyst reports. Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target for the company. in a research note on Wednesday, January 8th. Wedbush lifted their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, March 28th. Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Truist Financial reduced their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Finally, Citigroup increased their price objective on shares of Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse has an average rating of “Moderate Buy” and an average price target of $192.23.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $153.22 on Wednesday. The business has a 50-day moving average of $173.42 and a two-hundred day moving average of $181.46. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were paid a $0.68 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 dividend on an annualized basis and a yield of 1.78%. Texas Roadhouse’s payout ratio is currently 42.04%.

Insider Activity

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse 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 sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the completion of the sale, the director now owns 6,801 shares in the company, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,905 shares of company stock valued at $3,198,367. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Company 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.