Sumitomo Mitsui Trust Group Inc. Reduces Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 13.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,583 shares of the restaurant operator’s stock after selling 1,738 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Texas Roadhouse were worth $1,930,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Coppell Advisory Solutions LLC raised its position in shares of Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Texas Roadhouse in the 4th quarter worth approximately $36,000. Park Place Capital Corp raised its position in shares of Texas Roadhouse by 459.1% in the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 303 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Texas Roadhouse by 41.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Texas Roadhouse by 153.9% in the 1st quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator’s stock worth $76,000 after acquiring an additional 277 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 $188.50 on Friday. The company has a market capitalization of $12.51 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The business’s fifty day moving average is $186.82 and its 200 day moving average is $178.54. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the firm posted $1.69 earnings per share. Texas Roadhouse’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were given a $0.68 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a dividend yield of 1.44%. Texas Roadhouse’s payout ratio is 41.98%.

Insider Activity

In other news, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the sale, the director directly owned 38,050 shares of the company’s stock, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director directly owned 4,632 shares in the company, valued at $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TXRH. UBS Group increased their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Barclays reduced their price objective on Texas Roadhouse from $179.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group lifted their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.05.

Texas Roadhouse Company 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.