First Trust Advisors LP Lowers Position in Texas Roadhouse, Inc. $TXRH

First Trust Advisors LP cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 25.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,325 shares of the restaurant operator’s stock after selling 66,699 shares during the period. First Trust Advisors LP’s holdings in Texas Roadhouse were worth $37,543,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Axiom Investors LLC DE grew its position in shares of Texas Roadhouse by 3,696.7% during the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after acquiring an additional 2,116,552 shares during the period. Roundview Capital LLC bought a new position in Texas Roadhouse during the second quarter valued at $1,482,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Texas Roadhouse by 2,515.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock valued at $78,158,000 after purchasing an additional 401,098 shares during the period. Symphony Financial Ltd. Co. purchased a new stake in Texas Roadhouse in the second quarter worth $28,465,000. Finally, NorthRock Partners LLC bought a new stake in shares of Texas Roadhouse in the second quarter valued at $276,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Trading Down 0.1%

Shares of NASDAQ:TXRH opened at $164.95 on Wednesday. The company has a 50 day moving average of $169.27 and a 200 day moving average of $176.62. The stock has a market cap of $10.91 billion, a P/E ratio of 25.22, a P/E/G ratio of 2.69 and a beta of 0.88. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, December 2nd. Texas Roadhouse’s payout ratio is presently 41.59%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Hugh J. Carroll sold 1,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the sale, the director owned 1,854 shares of the company’s stock, valued at $310,118.58. This trade represents a 35.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 1,400 shares of Texas Roadhouse stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total value of $238,000.00. Following the sale, the director owned 32,150 shares of the company’s stock, valued at approximately $5,465,500. This trade represents a 4.17% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TXRH shares. Morgan Stanley cut their price target on Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. UBS Group reiterated a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Truist Financial lowered their price target on shares of Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Mizuho upgraded shares of Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Moderate Buy” and a consensus target price of $192.95.

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.