Bryce Point Capital LLC Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bryce Point Capital LLC bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,618 shares of the restaurant operator’s stock, valued at approximately $472,000.

A number of other institutional investors have also made changes to their positions in TXRH. Zions Bancorporation N.A. raised its holdings in Texas Roadhouse by 19.5% in the 4th quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator’s stock valued at $2,373,000 after acquiring an additional 2,144 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Texas Roadhouse during the fourth quarter worth approximately $2,959,000. Chase Investment Counsel Corp acquired a new stake in Texas Roadhouse during the 4th quarter worth approximately $316,000. Raymond James Financial Inc. bought a new stake in Texas Roadhouse in the 4th quarter valued at $55,177,000. Finally, First Hawaiian Bank acquired a new position in Texas Roadhouse in the 4th quarter valued at $1,554,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Curtis Warfield sold 3,281 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total value of $602,621.27. Following the sale, the director now owns 6,801 shares of the company’s stock, valued at $1,249,139.67. The trade was a 32.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 value of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares of the company’s stock, valued at $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. Insiders have sold 17,905 shares of company stock valued at $3,198,367 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXRH. Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Truist Financial decreased their target price on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a report on Wednesday, January 8th. Barclays cut their price target on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, Guggenheim lowered their price objective on Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. 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 a consensus rating of “Moderate Buy” and a consensus price target of $193.36.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $159.86 on Friday. Texas Roadhouse, Inc. has a 52 week low of $146.75 and a 52 week high of $206.04. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.23 and a beta of 1.00. The stock has a fifty day moving average of $175.08 and a 200-day moving average of $181.66.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.41 billion. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. This represents a $2.72 annualized dividend and a yield of 1.70%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 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.