American Century Companies Inc. Lowers Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

American Century Companies Inc. cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,777 shares of the restaurant operator’s stock after selling 30,649 shares during the quarter. American Century Companies Inc.’s holdings in Texas Roadhouse were worth $26,483,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Kingsview Wealth Management LLC grew its holdings in shares of Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the period. Cornerstone Investment Partners LLC lifted its holdings in Texas Roadhouse by 2.7% in the 4th quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares in the last quarter. Lifestyle Asset Management Inc. lifted its stake in shares of Texas Roadhouse by 3.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock valued at $289,000 after buying an additional 60 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Texas Roadhouse by 32.2% during 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, Central Pacific Bank Trust Division lifted its position in Texas Roadhouse by 9.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 960 shares of the restaurant operator’s stock worth $173,000 after buying an additional 80 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXRH. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective for the company. in a research note on Wednesday, January 8th. Barclays dropped 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 note on Friday, February 21st. Wedbush lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They issued a “neutral” rating and a $213.00 price target for the company. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $205.00 to $213.00 in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $193.36.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $171.05 on Friday. The business has a fifty day moving average of $176.36 and a 200-day moving average of $181.65. The stock has a market cap of $11.37 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) 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. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.59%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Insider Transactions at Texas Roadhouse

In related news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction dated 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 sale, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares in the company, valued at $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,905 shares of company stock valued at $3,198,367 over the last three months. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.