AXQ Capital LP Cuts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

AXQ Capital LP lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 21.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,421 shares of the restaurant operator’s stock after selling 1,778 shares during the period. AXQ Capital LP’s holdings in Texas Roadhouse were worth $1,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth about $30,000. True Wealth Design LLC purchased a new stake in Texas Roadhouse in the third quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in Texas Roadhouse in the fourth quarter valued at $36,000. MassMutual Private Wealth & Trust FSB boosted its position in Texas Roadhouse by 32.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after acquiring an additional 65 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Texas Roadhouse by 158.1% during the third quarter. First Horizon Advisors Inc. now owns 302 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 0.5 %

NASDAQ TXRH opened at $169.88 on Friday. The stock has a market cap of $11.29 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.23 and a beta of 1.00. Texas Roadhouse, Inc. has a 12-month low of $146.75 and a 12-month high of $206.04. The company has a fifty day simple moving average of $176.79 and a two-hundred day simple moving average of $181.14.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.68 per share. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is currently 42.04%.

Analyst Ratings Changes

Several research firms have recently issued reports on TXRH. Wedbush lowered their price target on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Citigroup boosted their price target on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Stephens cut their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Texas Roadhouse has an average rating of “Moderate Buy” and a consensus price target of $192.91.

Insider Buying and Selling at Texas Roadhouse

In other news, insider Christopher C. Colson sold 1,370 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $179.46, for a total transaction of $245,860.20. Following the transaction, the insider now owns 10,000 shares in the company, valued at $1,794,600. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,905 shares of company stock valued at $3,198,367. 0.50% of the stock is owned by company 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.