Westwood Holdings Group Inc. Sells 61,373 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Westwood Holdings Group Inc. trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 49.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,450 shares of the restaurant operator’s stock after selling 61,373 shares during the period. Westwood Holdings Group Inc.’s holdings in Texas Roadhouse were worth $9,647,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TXRH. Norges Bank bought a new position in Texas Roadhouse in the fourth quarter worth about $78,544,000. Balyasny Asset Management L.P. raised its stake in Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after buying an additional 441,069 shares in the last quarter. Armistice Capital LLC bought a new position in Texas Roadhouse in the fourth quarter worth about $28,724,000. Bank of Nova Scotia raised its stake in Texas Roadhouse by 5,135.0% in the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after buying an additional 218,287 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Texas Roadhouse by 2,985.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock worth $25,481,000 after buying an additional 201,714 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Wayne L. Jones 700 shares of the stock in a transaction that occurred on Monday, July 29th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The disclosure for this sale can be found here. Insiders sold 19,025 shares of company stock valued at $3,251,266 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Down 4.0 %

TXRH traded down $7.00 during trading on Friday, hitting $166.13. 819,237 shares of the company traded hands, compared to its average volume of 886,773. The company has a market cap of $11.10 billion, a PE ratio of 33.63, a P/E/G ratio of 1.56 and a beta of 1.01. The stock’s 50-day simple moving average is $170.18 and its two-hundred day simple moving average is $156.17. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $177.72.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. Texas Roadhouse’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. Equities analysts expect that Texas Roadhouse, Inc. will post 6.34 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 annualized dividend and a yield of 1.47%. Texas Roadhouse’s payout ratio is 49.39%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TXRH. Benchmark began coverage on shares of Texas Roadhouse in a report on Wednesday, April 10th. They issued a “hold” rating on the stock. BMO Capital Markets upped their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Stephens upped their price objective on shares of Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Barclays increased their price target on shares of Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, Truist Financial increased their price target on shares of Texas Roadhouse from $185.00 to $196.00 and gave the company a “buy” rating in a report on Friday, July 26th. Thirteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $169.86.

Texas Roadhouse 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.