Allspring Global Investments Holdings LLC Lowers Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Allspring Global Investments Holdings LLC trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,053 shares of the restaurant operator’s stock after selling 7,292 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Texas Roadhouse were worth $6,729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Operose Advisors LLC purchased a new position in shares of Texas Roadhouse in the 3rd quarter worth about $28,000. Quarry LP increased its position in Texas Roadhouse by 100.6% during the 2nd quarter. Quarry LP now owns 364 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 60,364 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Texas Roadhouse in the second quarter valued at approximately $32,000. Belpointe Asset Management LLC lifted its position in Texas Roadhouse by 71.9% during the first quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 192 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in Texas Roadhouse by 35.8% during the third quarter. Fifth Third Bancorp now owns 474 shares of the restaurant operator’s stock valued at $46,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $149.39 on Thursday. The firm has a market cap of $9.98 billion, a P/E ratio of 32.98, a P/E/G ratio of 1.65 and a beta of 0.99. The firm has a fifty day moving average of $148.67 and a two-hundred day moving average of $124.62. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $157.12.

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

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio is currently 53.86%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TXRH. Piper Sandler increased their price objective on shares of Texas Roadhouse from $110.00 to $136.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Wedbush raised their price objective on Texas Roadhouse from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Truist Financial upped their target price on Texas Roadhouse from $152.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Robert W. Baird upgraded Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their target price for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Finally, Jefferies Financial Group upped their price target on Texas Roadhouse from $120.00 to $136.00 and gave the stock a “hold” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $136.05.

Insider Buying and Selling

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the sale, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gerald L. Morgan sold 5,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares in the company, valued at $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock worth $1,843,145 over the last ninety days. 0.50% of the stock is owned by insiders.

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.