Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 90.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,658 shares of the restaurant operator’s stock after selling 144,895 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Texas Roadhouse were worth $2,656,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $30,000. PSI Advisors LLC increased its position in shares of Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Texas Roadhouse by 32.2% in 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 last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Texas Roadhouse by 158.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 185 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Texas Roadhouse in a research report on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price objective on the stock. Truist Financial dropped their target price 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. BMO Capital Markets increased their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their target price on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.50.

Texas Roadhouse Trading Down 1.4 %

NASDAQ:TXRH opened at $169.13 on Friday. The company has a market capitalization of $11.28 billion, a P/E ratio of 29.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. Texas Roadhouse, Inc. has a twelve month low of $146.51 and a twelve month high of $206.04. The firm has a 50-day moving average price of $179.58 and a two-hundred day moving average price of $180.02.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.61%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s payout ratio 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.