Meeder Asset Management Inc. Has $7.77 Million Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Meeder Asset Management Inc. lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 514.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,073 shares of the restaurant operator’s stock after purchasing an additional 36,058 shares during the quarter. Meeder Asset Management Inc. owned 0.06% of Texas Roadhouse worth $7,772,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Texas Roadhouse during the 4th quarter worth approximately $155,239,000. FMR LLC raised its position in Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after purchasing an additional 403,720 shares in the last quarter. Franklin Resources Inc. lifted its stake in Texas Roadhouse by 76.0% during the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after purchasing an additional 385,998 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Texas Roadhouse in the 3rd quarter valued at $66,609,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at $55,177,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $171.05 on Monday. The firm has a market cap of $11.37 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 52-week low of $146.75 and a 52-week high of $206.04. The firm has a 50 day moving average price of $176.36 and a two-hundred day moving average price of $181.78.

Texas Roadhouse (NASDAQ:TXRH) last released its 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. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.59%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

Insiders Place Their Bets

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of Texas Roadhouse 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 completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,905 shares of company stock worth $3,198,367. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TXRH. Citigroup upped their price objective on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lowered their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Truist Financial reduced their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $193.36.

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.