Cascade Investment Advisors Inc. Cuts Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Cascade Investment Advisors Inc. lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,130 shares of the restaurant operator’s stock after selling 1,445 shares during the quarter. Texas Roadhouse makes up approximately 1.2% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 22nd biggest position. Cascade Investment Advisors Inc.’s holdings in Texas Roadhouse were worth $1,874,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Albert D Mason Inc. purchased a new stake in Texas Roadhouse in the first quarter worth approximately $597,000. Assenagon Asset Management S.A. purchased a new stake in Texas Roadhouse in the first quarter worth approximately $7,540,000. Louisiana State Employees Retirement System boosted its stake in Texas Roadhouse by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 19,200 shares of the restaurant operator’s stock worth $2,966,000 after buying an additional 400 shares in the last quarter. Stablepoint Partners LLC boosted its stake in Texas Roadhouse by 11.4% in the first quarter. Stablepoint Partners LLC now owns 8,795 shares of the restaurant operator’s stock worth $1,359,000 after buying an additional 901 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in Texas Roadhouse by 2.4% in the first quarter. Raymond James & Associates now owns 67,707 shares of the restaurant operator’s stock worth $10,459,000 after buying an additional 1,557 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 0.5 %

TXRH traded down $0.83 during trading on Thursday, reaching $166.37. The stock had a trading volume of 416,688 shares, compared to its average volume of 790,954. The stock’s 50 day moving average is $157.28 and its two-hundred day moving average is $136.27. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 1.65 and a beta of 1.00. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $170.76.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 5.96 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th will be paid a $0.61 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.47%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Insider Transactions at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 3,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $168.60, for a total value of $505,800.00. Following the sale, the chief technology officer now directly owns 17,842 shares of the company’s stock, valued at $3,008,161.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Hernan E. Mujica sold 3,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $168.60, for a total transaction of $505,800.00. Following the sale, the chief technology officer now directly owns 17,842 shares of the company’s stock, valued at $3,008,161.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Curtis Warfield sold 1,025 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the sale, the director now directly owns 12,372 shares in the company, valued at $2,051,525.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,042 shares of company stock valued at $2,167,283. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on TXRH shares. Stifel Nicolaus upped their target price on Texas Roadhouse from $155.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. Stephens boosted their price objective on Texas Roadhouse from $150.00 to $164.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Barclays boosted their price objective on Texas Roadhouse from $138.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Texas Roadhouse from $145.00 to $165.00 and gave the company a “sector perform” rating in a research report on Friday, May 3rd. Finally, Truist Financial boosted their price objective on Texas Roadhouse from $170.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $155.55.

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.