Texas Roadhouse, Inc. (NASDAQ:TXRH) Holdings Trimmed by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,833 shares of the restaurant operator’s stock after selling 505 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Texas Roadhouse were worth $2,032,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. LRI Investments LLC acquired a new position in Texas Roadhouse during the first quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in shares of Texas Roadhouse in the first quarter worth approximately $32,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Texas Roadhouse by 454.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Texas Roadhouse during the first quarter valued at approximately $76,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 1.7 %

NASDAQ:TXRH opened at $169.61 on Thursday. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $177.72. The firm’s fifty day simple moving average is $169.42 and its 200 day simple moving average is $160.15. The firm has a market capitalization of $11.31 billion, a PE ratio of 34.33, a PEG ratio of 1.51 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 6.32 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TXRH. Truist Financial lifted their target price on shares of Texas Roadhouse from $185.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stephens lifted their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Wedbush boosted their target price on Texas Roadhouse from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. BMO Capital Markets raised their price target on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird lifted their price target on Texas Roadhouse from $178.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.86.

Insiders Place Their Bets

In other news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the transaction, the chief executive officer now owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

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.