MGB Wealth Management LLC Decreases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

MGB Wealth Management LLC decreased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,366 shares of the restaurant operator’s stock after selling 1,810 shares during the period. MGB Wealth Management LLC’s holdings in Texas Roadhouse were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Kingsview Wealth Management LLC grew its holdings in Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after purchasing an additional 62 shares during the last quarter. PSI Advisors LLC grew its stake in shares of Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in Texas Roadhouse by 5.4% in the third quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock valued at $259,000 after buying an additional 75 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Texas Roadhouse by 12.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock valued at $128,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Up 1.2 %

Shares of NASDAQ:TXRH opened at $194.90 on Friday. The company has a market capitalization of $13.00 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.64 and a beta of 0.98. Texas Roadhouse, Inc. has a 52-week low of $110.88 and a 52-week high of $203.32. The stock’s fifty day simple moving average is $183.50 and its 200-day simple moving average is $173.78.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. Texas Roadhouse’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Transactions at Texas Roadhouse

In related news, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the sale, the director now owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

TXRH has been the subject of several analyst reports. Robert W. Baird upped their price objective on Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Truist Financial upped their price target on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group raised their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, October 25th. BMO Capital Markets upped their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Finally, Citigroup lifted their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse has an average rating of “Hold” and an average target price of $189.00.

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.