Summit Global Investments Sells 1,150 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Summit Global Investments cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 21.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,193 shares of the restaurant operator’s stock after selling 1,150 shares during the period. Summit Global Investments’ holdings in Texas Roadhouse were worth $757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $30,000. True Wealth Design LLC bought a new stake in shares of Texas Roadhouse during the third quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock worth $48,000 after purchasing an additional 65 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Texas Roadhouse by 158.1% in the third quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 185 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $169.88 on Monday. The firm has a market cap of $11.29 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a fifty-two week low of $146.75 and a fifty-two week high of $206.04. The business has a 50 day moving average price of $176.79 and a 200-day moving average price of $181.33.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.60%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TXRH shares. Truist Financial decreased their price objective on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a research report on Wednesday, January 8th. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Stephens decreased their price objective on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Finally, Barclays decreased their price objective on shares of Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.91.

Insider Buying and Selling

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock valued at $3,198,367 over the last quarter. 0.50% of the stock is owned by company insiders.

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.