Norges Bank Invests $145.73 Million in Texas Roadhouse, Inc. $TXRH

Norges Bank purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 877,915 shares of the restaurant operator’s stock, valued at approximately $145,734,000. Norges Bank owned about 1.33% of Texas Roadhouse at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock worth $604,606,000 after buying an additional 466,176 shares in the last quarter. Capital World Investors increased its position in Texas Roadhouse by 580.2% in the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock worth $371,658,000 after buying an additional 1,908,033 shares in the last quarter. UBS Group AG increased its position in Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock worth $230,317,000 after buying an additional 522,509 shares in the last quarter. Geode Capital Management LLC increased its position in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after buying an additional 24,834 shares in the last quarter. Finally, Steadfast Capital Management LP lifted its stake in shares of Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock valued at $211,949,000 after buying an additional 635,178 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Down 2.8%

Shares of TXRH stock opened at $166.19 on Thursday. The company’s fifty day simple moving average is $168.13 and its two-hundred day simple moving average is $173.83. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.92 billion, a P/E ratio of 26.55, a PEG ratio of 1.87 and a beta of 0.79. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $197.00.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.70 EPS. Analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is currently 47.92%.

Insider Activity

In other news, Director Curtis Warfield sold 2,640 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the sale, the director directly owned 5,361 shares in the company, valued at approximately $981,331.05. This represents a 33.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider owned 10,326 shares in the company, valued at $1,841,538.84. This represents a 8.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,716 shares of company stock worth $3,251,991. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TXRH has been the subject of several recent analyst reports. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Piper Sandler upped their target price on shares of Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Barclays dropped their target price on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. Finally, Citigroup dropped their target price on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse has an average rating of “Hold” and a consensus price target of $196.36.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.