Sumitomo Mitsui Trust Holdings Inc. Lowers Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Sumitomo Mitsui Trust Holdings Inc. cut its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 22.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,312 shares of the restaurant operator’s stock after selling 2,724 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Texas Roadhouse were worth $1,138,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new position in Texas Roadhouse in the fourth quarter worth about $2,298,000. Crestwood Advisors Group LLC raised its holdings in Texas Roadhouse by 12.4% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,279 shares of the restaurant operator’s stock worth $401,000 after buying an additional 363 shares during the last quarter. Cerity Partners LLC raised its holdings in Texas Roadhouse by 36.2% in the fourth quarter. Cerity Partners LLC now owns 6,072 shares of the restaurant operator’s stock worth $742,000 after buying an additional 1,614 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in Texas Roadhouse by 5.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 46,463 shares of the restaurant operator’s stock worth $5,679,000 after buying an additional 2,526 shares during the last quarter. Finally, Hendershot Investments Inc. raised its holdings in Texas Roadhouse by 6.7% in the fourth quarter. Hendershot Investments Inc. now owns 80,596 shares of the restaurant operator’s stock worth $9,851,000 after buying an additional 5,084 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush lifted their target price on shares of Texas Roadhouse from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Northcoast Research cut shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Robert W. Baird raised shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Citigroup boosted their price objective on shares of Texas Roadhouse from $162.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $110.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $138.76.

Texas Roadhouse Price Performance

TXRH opened at $156.87 on Friday. The firm has a market cap of $10.48 billion, a P/E ratio of 34.63, a PEG ratio of 1.70 and a beta of 0.99. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $159.31. The company has a 50 day simple moving average of $151.10 and a two-hundred day simple moving average of $126.83.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. Equities analysts anticipate that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 13th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is 53.86%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,064 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total value of $459,814.48. Following the transaction, the president now owns 15,261 shares of the company’s stock, valued at $2,290,218.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Curtis Warfield sold 2,365 shares of the business’s stock in a transaction 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 transaction, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Regina A. Tobin sold 3,064 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $150.07, for a total transaction of $459,814.48. Following 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 currently owned by corporate 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.