T. Rowe Price Investment Management Inc. Cuts Holdings in Texas Roadhouse, Inc. $TXRH

T. Rowe Price Investment Management Inc. lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,299,231 shares of the restaurant operator’s stock after selling 13,675 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Texas Roadhouse were worth $381,673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TXRH. Alliancebernstein L.P. grew its position in shares of Texas Roadhouse by 14.7% during 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. AQR Capital Management LLC raised its holdings in Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock valued at $443,901,000 after acquiring an additional 575,685 shares in the last quarter. Capital World Investors lifted its stake in Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after acquiring an additional 300,405 shares during the last quarter. UBS Group AG lifted its stake 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 acquiring an additional 522,509 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Texas Roadhouse by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after acquiring an additional 24,834 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 $177.75 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $197.00. The company has a market capitalization of $11.68 billion, a PE ratio of 28.39, a P/E/G ratio of 1.90 and a beta of 0.79. The company has a fifty day moving average of $169.09 and a two-hundred day moving average of $173.55.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.70 earnings per share. As a group, analysts expect that Texas Roadhouse, Inc. will post 6.42 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. Texas Roadhouse’s payout ratio is currently 47.92%.

Analyst Ratings Changes

A number of brokerages have commented on TXRH. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Stifel Nicolaus boosted their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. TD Cowen boosted their target price on shares of Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Barclays dropped their target price on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $200.00 price target on shares of Texas Roadhouse in a research note 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $196.36.

Insider Buying and Selling

In other news, Director Jane Grote Abell sold 339 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $177.43, for a total value of $60,148.77. Following the completion of the sale, the director directly owned 2,161 shares of the company’s stock, valued at approximately $383,426.23. This represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Curtis Warfield sold 2,640 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $183.05, for a total transaction of $483,252.00. Following the transaction, the director owned 5,361 shares in the company, valued at approximately $981,331.05. This trade represents a 33.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,728 shares of company stock valued at $1,033,847 in the last 90 days. Company insiders own 0.50% of the company’s stock.

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.