Pier Capital LLC Cuts Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Pier Capital LLC lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 92.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,407 shares of the restaurant operator’s stock after selling 51,382 shares during the quarter. Pier Capital LLC’s holdings in Texas Roadhouse were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXRH. Hantz Financial Services Inc. lifted its holdings in shares of Texas Roadhouse by 8,594.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,130 shares of the restaurant operator’s stock valued at $553,000 after buying an additional 3,094 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Texas Roadhouse in the third quarter valued at $17,853,000. Chase Investment Counsel Corp purchased a new stake in shares of Texas Roadhouse during the 4th quarter worth $316,000. Raymond James Financial Inc. acquired a new position in shares of Texas Roadhouse during the 4th quarter worth $55,177,000. Finally, First Hawaiian Bank purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $1,554,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

TXRH opened at $175.87 on Tuesday. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The business has a 50-day moving average of $176.70 and a two-hundred day moving average of $181.41. The stock has a market capitalization of $11.69 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.07. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

Insider Buying and Selling

In other news, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory N. Moore sold 2,700 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $168.26, for a total transaction of $454,302.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

TXRH has been the topic of several recent analyst reports. Citigroup upped their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada lowered their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Morgan Stanley raised Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $213.00 in a report on Tuesday, January 21st. Truist Financial lowered their target price on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Stephens cut their price target on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $192.91.

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.