Corebridge Financial Inc. Has $13.76 Million Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Corebridge Financial Inc. cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 76,254 shares of the restaurant operator’s stock after selling 3,378 shares during the quarter. Corebridge Financial Inc.’s holdings in Texas Roadhouse were worth $13,759,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Kingsview Wealth Management LLC grew its position in Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the last quarter. Cornerstone Investment Partners LLC boosted its stake in shares of Texas Roadhouse by 2.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator’s stock valued at $390,000 after purchasing an additional 56 shares in the last quarter. Lifestyle Asset Management Inc. grew its holdings in shares of Texas Roadhouse by 3.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator’s stock worth $289,000 after purchasing an additional 60 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the period. Finally, Insight Wealth Partners LLC raised its holdings in Texas Roadhouse by 3.9% in the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock valued at $321,000 after buying an additional 68 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Stephens reduced their target price on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating on the stock in a report on Friday, February 21st. Stifel Nicolaus reduced their price objective on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Royal Bank of Canada lowered their target price on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating for the company in a research report on Friday, February 21st. Citigroup upped their price target on Texas Roadhouse from $212.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.91.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Curtis Warfield sold 4,190 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $178.80, for a total transaction of $749,172.00. Following the completion of the sale, the director now directly owns 10,082 shares of the company’s stock, valued at approximately $1,802,661.60. The trade was a 29.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,154 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the completion of the transaction, the president now owns 18,414 shares in the company, valued at $3,418,374.96. This represents a 14.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH opened at $177.50 on Wednesday. The stock has a 50-day moving average of $176.67 and a 200-day moving average of $181.52. Texas Roadhouse, Inc. has a one year low of $146.75 and a one year high of $206.04. The company has a market cap of $11.80 billion, a PE ratio of 27.43, a P/E/G ratio of 1.23 and a beta of 1.00.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a dividend of $0.68 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.53%. Texas Roadhouse’s dividend payout ratio is presently 42.04%.

About Texas Roadhouse

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.