Moran Wealth Management LLC Sells 1,577 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Moran Wealth Management LLC reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,393 shares of the restaurant operator’s stock after selling 1,577 shares during the quarter. Moran Wealth Management LLC’s holdings in Texas Roadhouse were worth $9,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TXRH. State Street Corp increased its position in Texas Roadhouse by 2.0% in the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock worth $350,171,000 after purchasing an additional 38,723 shares during the period. Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.5% in the third quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock valued at $212,261,000 after acquiring an additional 18,126 shares during the last quarter. Barclays PLC grew its holdings in Texas Roadhouse by 14.4% during the 3rd quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock worth $208,539,000 after acquiring an additional 148,462 shares during the period. Geneva Capital Management LLC raised its position in shares of Texas Roadhouse by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock valued at $162,897,000 after acquiring an additional 3,584 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Texas Roadhouse by 81.6% in the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after purchasing an additional 403,720 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the sale, the president now directly owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $181.94, for a total value of $105,525.20. Following the transaction, the insider now owns 12,000 shares in the company, valued at approximately $2,183,280. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,905 shares of company stock valued at $3,198,367. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TXRH. Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $213.00 in a research note on Tuesday, January 21st. Stifel Nicolaus cut their price target 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, February 21st. Barclays lowered their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada decreased their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Finally, Truist Financial decreased their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.73.

Texas Roadhouse Trading Down 0.1 %

Shares of TXRH stock opened at $179.03 on Monday. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The firm has a market capitalization of $11.94 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.23 and a beta of 1.00. The business’s 50-day moving average price is $178.57 and its 200-day moving average price is $181.07.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.52%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is presently 42.04%.

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.