Readystate Asset Management LP Has $930,000 Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Readystate Asset Management LP trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.1% in the fourth quarter, HoldingsChannel reports. The firm owned 7,610 shares of the restaurant operator’s stock after selling 2,290 shares during the period. Readystate Asset Management LP’s holdings in Texas Roadhouse were worth $930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Red Spruce Capital LLC increased its holdings in Texas Roadhouse by 0.5% during the 4th quarter. Red Spruce Capital LLC now owns 22,359 shares of the restaurant operator’s stock valued at $2,733,000 after purchasing an additional 110 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Texas Roadhouse by 3.2% during the 4th quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after purchasing an additional 111 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in Texas Roadhouse by 3.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,121 shares of the restaurant operator’s stock valued at $375,000 after purchasing an additional 124 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in Texas Roadhouse by 0.8% during the 1st quarter. First Republic Investment Management Inc. now owns 16,561 shares of the restaurant operator’s stock valued at $1,790,000 after purchasing an additional 124 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Texas Roadhouse by 35.8% during the 3rd quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 125 shares in the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Roadhouse

In related news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the sale, the director now owns 4,142 shares of the company’s stock, valued at $621,175.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $149.97, for a total value of $100,479.90. Following the sale, the director now owns 4,142 shares of the company’s stock, valued at $621,175.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Regina A. Tobin sold 3,064 shares of Texas Roadhouse stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the completion of the sale, the president now directly owns 15,261 shares in the company, valued at approximately $2,290,218.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is owned by insiders.

Texas Roadhouse Price Performance

Shares of TXRH traded up $1.07 during midday trading on Thursday, hitting $150.46. The stock had a trading volume of 774,014 shares, compared to its average volume of 789,556. The company has a 50 day simple moving average of $148.67 and a two-hundred day simple moving average of $124.62. Texas Roadhouse, Inc. has a twelve month low of $91.06 and a twelve month high of $157.12. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a return on equity of 27.43% and a net margin of 6.58%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that Texas Roadhouse, Inc. will post 5.74 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is currently 53.86%.

Wall Street Analyst Weigh In

TXRH has been the topic of a number of recent research reports. Northcoast Research lowered Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Truist Financial raised their price target on Texas Roadhouse from $152.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their price target on Texas Roadhouse from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Robert W. Baird upgraded Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $175.00 in a research report on Wednesday, March 13th. Finally, Benchmark initiated coverage on Texas Roadhouse in a research note on Wednesday, April 10th. They set a “hold” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.05.

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.