Geode Capital Management LLC Acquires 24,834 Shares of Texas Roadhouse, Inc. $TXRH

Geode Capital Management LLC increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,367,120 shares of the restaurant operator’s stock after buying an additional 24,834 shares during the quarter. Geode Capital Management LLC’s holdings in Texas Roadhouse were worth $226,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXRH. Capital World Investors raised its position in Texas Roadhouse by 580.2% during the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after purchasing an additional 1,908,033 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Texas Roadhouse during the 3rd quarter valued at $157,310,000. Victory Capital Management Inc. raised its position in Texas Roadhouse by 770.6% during the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock valued at $161,540,000 after purchasing an additional 860,571 shares in the last quarter. Steadfast Capital Management LP raised its position in Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock valued at $211,949,000 after purchasing an additional 635,178 shares in the last quarter. Finally, UBS Group AG raised its position in Texas Roadhouse by 60.4% during the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after purchasing an additional 522,509 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 1,700 shares of Texas Roadhouse stock in a transaction on Friday, March 6th. The stock was sold at an average price of $171.59, for a total value of $291,703.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Hernan E. Mujica sold 5,000 shares of Texas Roadhouse stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total value of $850,000.00. Following the completion of the transaction, the chief technology officer owned 15,552 shares in the company, valued at $2,643,840. This represents a 24.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,716 shares of company stock worth $3,251,991. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Down 2.5%

Shares of NASDAQ:TXRH opened at $170.94 on Wednesday. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $197.00. The business’s fifty day simple moving average is $168.15 and its 200-day simple moving average is $173.82. The company has a market capitalization of $11.24 billion, a PE ratio of 27.31, a P/E/G ratio of 1.92 and a beta of 0.79. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.70 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be issued a $0.75 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 47.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TXRH shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Wells Fargo & Company decreased their target price on Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. BTIG Research reaffirmed a “buy” rating and set a $200.00 target price on shares of Texas Roadhouse in a research report on Friday, February 20th. Finally, Truist Financial decreased their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.36.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.