Norden Group LLC Sells 200 Shares of Texas Roadhouse, Inc. $TXRH

Norden Group LLC decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,224 shares of the restaurant operator’s stock after selling 200 shares during the period. Norden Group LLC’s holdings in Texas Roadhouse were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Jefferies Financial Group Inc. bought a new stake in Texas Roadhouse in the 4th quarter valued at about $371,000. Wealth Enhancement Advisory Services LLC increased its stake in Texas Roadhouse by 21.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,774 shares of the restaurant operator’s stock valued at $1,944,000 after acquiring an additional 1,880 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Texas Roadhouse by 41.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator’s stock valued at $63,000 after purchasing an additional 112 shares in the last quarter. First Hawaiian Bank lifted its stake in Texas Roadhouse by 101.0% during the first quarter. First Hawaiian Bank now owns 17,309 shares of the restaurant operator’s stock worth $2,884,000 after purchasing an additional 8,698 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Texas Roadhouse by 16.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,120 shares of the restaurant operator’s stock valued at $187,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Guggenheim reaffirmed a “buy” rating and set a $210.00 price target on shares of Texas Roadhouse in a report on Tuesday, September 16th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the company a “buy” rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group boosted their target price on shares of Texas Roadhouse from $184.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Finally, Melius initiated coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a “buy” rating and a $235.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Moderate Buy” and an average target price of $197.35.

Texas Roadhouse Stock Performance

TXRH stock opened at $163.01 on Friday. The company has a fifty day moving average price of $174.23 and a 200-day moving average price of $177.34. The company has a market capitalization of $10.83 billion, a P/E ratio of 24.89, a PEG ratio of 2.21 and a beta of 0.84. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 EPS. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse’s payout ratio is currently 41.53%.

Insider Activity at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 2,189 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, the chief technology officer owned 17,553 shares in the company, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock worth $1,443,704 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.