Hollencrest Capital Management Sells 100 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Hollencrest Capital Management lessened its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148 shares of the restaurant operator’s stock after selling 100 shares during the period. Hollencrest Capital Management’s holdings in Texas Roadhouse were worth $27,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kingsview Wealth Management LLC lifted its holdings in shares of Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock valued at $313,000 after purchasing an additional 54 shares in the last quarter. Cornerstone Investment Partners LLC raised its position 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 buying an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. raised its position in Texas Roadhouse by 3.9% in the 4th 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 last quarter. CIBC Asset Management Inc raised its position in Texas Roadhouse by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Texas Roadhouse by 32.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Barclays dropped their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Friday, February 21st. Truist Financial lowered their price target on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. The Goldman Sachs Group started coverage on Texas Roadhouse in a research report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price target on the stock. Finally, Gordon Haskett lowered Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a research report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.73.

Texas Roadhouse Price Performance

TXRH opened at $167.78 on Friday. The business has a fifty day simple moving average of $178.10 and a 200 day simple moving average of $181.07. The company has a market capitalization of $11.15 billion, a PE ratio of 25.93, a price-to-earnings-growth 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 released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.62%. Texas Roadhouse’s payout ratio is 42.04%.

Insider Activity at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the sale, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,905 shares of company stock worth $3,198,367 in the last ninety days. 0.50% of the stock is owned by company insiders.

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.