TD Asset Management Inc Sells 174,064 Shares of Texas Roadhouse, Inc. $TXRH

TD Asset Management Inc cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 52.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,600 shares of the restaurant operator’s stock after selling 174,064 shares during the period. TD Asset Management Inc owned 0.24% of Texas Roadhouse worth $26,660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lido Advisors LLC grew its holdings in shares of Texas Roadhouse by 8.0% during the fourth quarter. Lido Advisors LLC now owns 1,594 shares of the restaurant operator’s stock worth $265,000 after purchasing an additional 118 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Texas Roadhouse by 32.1% during the fourth quarter. Sivia Capital Partners LLC now owns 2,425 shares of the restaurant operator’s stock worth $403,000 after purchasing an additional 589 shares in the last quarter. Kesler Norman & Wride LLC grew its holdings in shares of Texas Roadhouse by 32.4% during the fourth quarter. Kesler Norman & Wride LLC now owns 5,389 shares of the restaurant operator’s stock worth $895,000 after purchasing an additional 1,318 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Texas Roadhouse by 8.3% during the fourth quarter. Natixis Advisors LLC now owns 49,370 shares of the restaurant operator’s stock worth $8,195,000 after purchasing an additional 3,777 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of Texas Roadhouse during the fourth quarter worth about $29,714,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $170.46 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $197.00. The stock has a 50 day moving average price of $168.02 and a two-hundred day moving average price of $173.79. The company has a market capitalization of $11.20 billion, a P/E ratio of 27.23, a PEG ratio of 1.87 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Analysts expect that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TXRH. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Stifel Nicolaus upped their target price on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Mizuho upped their target price on Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Truist Financial cut their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $196.36.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the transaction, the director owned 30,900 shares in the company, valued at $5,504,526. This represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total value of $178,340.00. Following the transaction, the insider owned 10,326 shares of the company’s stock, valued at approximately $1,841,538.84. This represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,166 shares of company stock valued at $2,813,705 over the last 90 days. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.