Amalgamated Bank Trims Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Amalgamated Bank lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,774 shares of the restaurant operator’s stock after selling 4,315 shares during the quarter. Amalgamated Bank’s holdings in Texas Roadhouse were worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Invesco Ltd. increased its stake in shares of Texas Roadhouse by 40.7% in the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock worth $123,133,000 after purchasing an additional 370,627 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in Texas Roadhouse by 60.9% during the third quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after acquiring an additional 294,425 shares during the period. California Public Employees Retirement System grew its position in shares of Texas Roadhouse by 164.8% during the third quarter. California Public Employees Retirement System now owns 362,059 shares of the restaurant operator’s stock worth $34,794,000 after purchasing an additional 225,338 shares in the last quarter. Victory Capital Management Inc. raised its stake in Texas Roadhouse by 26.3% during the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after purchasing an additional 205,064 shares during the period. Finally, ING Groep NV purchased a new position in Texas Roadhouse in the 3rd quarter worth approximately $18,622,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TXRH. Benchmark assumed coverage on shares of Texas Roadhouse in a report on Wednesday, April 10th. They issued a “hold” rating on the stock. Wells Fargo & Company raised their price objective on Texas Roadhouse from $140.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday. Northcoast Research downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Piper Sandler raised their price target on Texas Roadhouse from $110.00 to $136.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada upped their price objective on Texas Roadhouse from $145.00 to $165.00 and gave the stock a “sector perform” rating in a report on Friday. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse has an average rating of “Hold” and a consensus price target of $152.59.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $163.61 on Monday. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. The firm has a 50-day moving average of $152.50 and a two-hundred day moving average of $130.02. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $170.39.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. Texas Roadhouse’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. Research analysts expect that Texas Roadhouse, Inc. will post 5.9 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.61 per share. The ex-dividend date was Tuesday, March 12th. This represents a $2.44 annualized dividend and a dividend yield of 1.49%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s dividend payout ratio (DPR) is currently 49.39%.

Insider Buying and Selling

In other news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares in the company, valued at approximately $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total value of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at $13,732,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Regina A. Tobin sold 3,064 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the sale, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Insiders sold a total of 12,382 shares of company stock valued at $1,843,145 over the last three months. 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.