Texas Roadhouse, Inc. (NASDAQ:TXRH) Stock Position Reduced by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 15.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 668,562 shares of the restaurant operator’s stock after selling 120,249 shares during the quarter. Wellington Management Group LLP’s holdings in Texas Roadhouse were worth $118,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Texas Roadhouse by 2.0% during the 3rd quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock valued at $350,171,000 after acquiring an additional 38,723 shares in the last quarter. Geneva Capital Management LLC grew its stake in Texas Roadhouse by 0.4% in the third quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock valued at $162,897,000 after purchasing an additional 3,584 shares in the last quarter. AQR Capital Management LLC grew its stake in Texas Roadhouse by 22.3% in the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after purchasing an additional 165,738 shares in the last quarter. FMR LLC increased its position in Texas Roadhouse by 81.6% in the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after purchasing an additional 403,720 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Texas Roadhouse by 128.9% during the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after purchasing an additional 430,814 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $192.42 on Tuesday. The firm’s 50-day moving average is $189.62 and its 200-day moving average is $176.38. The company has a market cap of $12.84 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.67 and a beta of 0.98. Texas Roadhouse, Inc. has a 52-week low of $113.81 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (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 firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. Equities analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 annualized dividend and a yield of 1.27%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.92%.

Insiders Place Their Bets

In other news, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now directly owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 $3,305,332.92. This trade represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the subject of several recent research reports. Truist Financial boosted their price target on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Citigroup increased their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird lifted their price objective on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada upped their price objective on shares of Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Morgan Stanley raised their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $190.09.

Texas Roadhouse 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.