JPMorgan Chase & Co. Trims Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

JPMorgan Chase & Co. trimmed its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 31.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 566,568 shares of the restaurant operator’s stock after selling 265,755 shares during the period. JPMorgan Chase & Co. owned approximately 0.85% of Texas Roadhouse worth $100,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its position in shares of Texas Roadhouse by 8,594.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock worth $553,000 after purchasing an additional 3,094 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Texas Roadhouse during the third quarter valued at about $17,853,000. Victory Capital Management Inc. raised its stake in shares of Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock valued at $11,962,000 after acquiring an additional 44,768 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Texas Roadhouse by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 483,045 shares of the restaurant operator’s stock worth $85,306,000 after acquiring an additional 4,391 shares during the last quarter. Finally, Portfolio Design Labs LLC purchased a new position in shares of Texas Roadhouse during the 3rd quarter worth approximately $1,595,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TXRH shares. Stifel Nicolaus boosted their target price on Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on shares of Texas Roadhouse from $175.00 to $185.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Loop Capital dropped their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a report on Monday, October 28th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and a consensus target price of $190.09.

Insider Activity

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

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $181.20 on Friday. The firm’s fifty day moving average price is $191.56 and its 200 day moving average price is $178.05. Texas Roadhouse, Inc. has a 12 month low of $115.48 and a 12 month high of $206.04. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results 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 firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given 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 1.35%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.92%.

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.