Aberdeen Group plc Sells 14,291 Shares of Texas Roadhouse, Inc. $TXRH

Aberdeen Group plc lessened its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,587 shares of the restaurant operator’s stock after selling 14,291 shares during the period. Aberdeen Group plc owned 0.19% of Texas Roadhouse worth $20,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Formidable Asset Management LLC boosted its holdings in shares of Texas Roadhouse by 13.6% during the fourth quarter. Formidable Asset Management LLC now owns 4,411 shares of the restaurant operator’s stock worth $733,000 after purchasing an additional 528 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Texas Roadhouse by 32.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,217 shares of the restaurant operator’s stock valued at $380,000 after purchasing an additional 540 shares during the period. Cascade Investment Advisors Inc. raised its position in Texas Roadhouse by 1.7% during the 4th quarter. Cascade Investment Advisors Inc. now owns 10,081 shares of the restaurant operator’s stock valued at $1,673,000 after purchasing an additional 170 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Texas Roadhouse during the 4th quarter valued at approximately $239,000. Finally, Pallas Capital Advisors LLC lifted its holdings in Texas Roadhouse by 6.3% in the 4th quarter. Pallas Capital Advisors LLC now owns 9,704 shares of the restaurant operator’s stock worth $1,611,000 after buying an additional 574 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Citigroup dropped their price target on Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Wall Street Zen cut shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. The Goldman Sachs Group boosted their price objective on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Finally, Zacks Research upgraded shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.90.

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer directly owned 91,774 shares in the company, valued at approximately $17,987,704. This trade represents a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Regina A. Tobin sold 4,450 shares of Texas Roadhouse stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $171.00, for a total value of $760,950.00. Following the transaction, the president owned 13,778 shares of the company’s stock, valued at $2,356,038. The trade was a 24.41% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 22,988 shares of company stock valued at $4,133,794. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $162.98 on Monday. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $199.99. The firm has a market capitalization of $10.75 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.77 and a beta of 0.88. The business has a fifty day simple moving average of $176.58 and a two-hundred day simple moving average of $173.33.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.75 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 17th. Texas Roadhouse’s payout ratio is 49.26%.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.