Corebridge Financial Inc. Has $13.76 Million Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Corebridge Financial Inc. lowered its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,254 shares of the restaurant operator’s stock after selling 3,378 shares during the period. Corebridge Financial Inc. owned about 0.11% of Texas Roadhouse worth $13,759,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXRH. Emerald Advisers LLC bought a new position in shares of Texas Roadhouse in the 4th quarter valued at about $160,000. Vanguard Group Inc. boosted its position in Texas Roadhouse by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator’s stock valued at $1,180,123,000 after purchasing an additional 76,051 shares during the last quarter. Bridge City Capital LLC grew its stake in Texas Roadhouse by 1.0% in the fourth quarter. Bridge City Capital LLC now owns 9,326 shares of the restaurant operator’s stock valued at $1,683,000 after purchasing an additional 88 shares in the last quarter. Stevens Capital Management LP increased its position in shares of Texas Roadhouse by 18.0% during the 4th quarter. Stevens Capital Management LP now owns 1,894 shares of the restaurant operator’s stock worth $342,000 after purchasing an additional 289 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Texas Roadhouse by 51.8% during the 4th quarter. LPL Financial LLC now owns 35,952 shares of the restaurant operator’s stock worth $6,467,000 after purchasing an additional 12,275 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 2,700 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $168.26, for a total value of $454,302.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Regina A. Tobin sold 3,154 shares of the business’s 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 transaction, the president now directly owns 18,414 shares of the company’s stock, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,905 shares of company stock valued at $3,198,367 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Trading Up 0.9 %

NASDAQ TXRH opened at $177.50 on Wednesday. The company has a market cap of $11.80 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 1.23 and a beta of 1.00. The company has a 50 day moving average of $176.67 and a 200-day moving average of $181.52. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04.

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

Texas Roadhouse Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.53%. 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 dividend payout ratio is presently 42.04%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TXRH. Royal Bank of Canada decreased their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research note on Friday, February 21st. Wedbush decreased their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Stephens dropped their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Citigroup lifted their price target on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.91.

About Texas Roadhouse

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.