Martingale Asset Management L P Trims Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Martingale Asset Management L P reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 21.3% during the third quarter, Holdings Channel reports. The firm owned 69,820 shares of the restaurant operator’s stock after selling 18,905 shares during the quarter. Martingale Asset Management L P’s holdings in Texas Roadhouse were worth $12,330,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Roadhouse during the 2nd quarter valued at $25,000. Hollencrest Capital Management bought a new position in shares of Texas Roadhouse in the 2nd quarter worth about $25,000. McClarren Financial Advisors Inc. lifted its position in Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 167 shares during the period. PSI Advisors LLC boosted its stake in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Texas Roadhouse by 118.6% in the third quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock worth $46,000 after purchasing an additional 140 shares during the period. 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 several recent research reports. Barclays lifted their target price on shares of Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Wedbush lifted their price objective on Texas Roadhouse from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Truist Financial raised their price target on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Guggenheim upped their price target on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $189.00.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $205.27 on Friday. Texas Roadhouse, Inc. has a fifty-two week low of $110.88 and a fifty-two week high of $206.04. The business has a 50-day simple moving average of $187.19 and a two-hundred day simple moving average of $175.08. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $0.95 EPS. Texas Roadhouse’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts predict that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s payout ratio is currently 41.92%.

Insider Activity

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