MGB Wealth Management LLC Sells 5,108 Shares of Texas Roadhouse, Inc. $TXRH

MGB Wealth Management LLC lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 67.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,432 shares of the restaurant operator’s stock after selling 5,108 shares during the period. MGB Wealth Management LLC’s holdings in Texas Roadhouse were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXRH. Erste Asset Management GmbH boosted its holdings in Texas Roadhouse by 19.6% in the 3rd quarter. Erste Asset Management GmbH now owns 140,380 shares of the restaurant operator’s stock valued at $23,383,000 after purchasing an additional 22,971 shares during the period. Xponance Inc. raised its position in shares of Texas Roadhouse by 1.5% in the third quarter. Xponance Inc. now owns 13,826 shares of the restaurant operator’s stock worth $2,297,000 after buying an additional 201 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Texas Roadhouse by 132.3% in the third quarter. Intech Investment Management LLC now owns 7,568 shares of the restaurant operator’s stock worth $1,257,000 after buying an additional 4,310 shares in the last quarter. MAI Capital Management boosted its stake in Texas Roadhouse by 45.4% during the third quarter. MAI Capital Management now owns 461 shares of the restaurant operator’s stock valued at $77,000 after buying an additional 144 shares during the period. Finally, Waddell & Associates LLC grew its position in Texas Roadhouse by 25.7% during the third quarter. Waddell & Associates LLC now owns 1,952 shares of the restaurant operator’s stock worth $324,000 after buying an additional 399 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 1.4%

Shares of NASDAQ TXRH opened at $184.37 on Friday. The stock’s 50-day moving average is $181.68 and its 200 day moving average is $173.54. The stock has a market cap of $12.20 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 1.96 and a beta of 0.88. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.25). Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The firm 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 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.68. Texas Roadhouse’s payout ratio is 44.66%.

Analyst Ratings Changes

Several analysts have weighed in on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. Morgan Stanley cut their price objective on Texas Roadhouse from $208.00 to $202.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen assumed coverage on shares of Texas Roadhouse in a research note on Tuesday, January 20th. They issued a “buy” rating and a $215.00 target price on the stock. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a research report on Monday. Finally, UBS Group reissued a “buy” rating on shares of Texas Roadhouse in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.55.

Insider Buying and Selling

In other news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the transaction, the chief executive officer directly owned 91,774 shares of the company’s stock, valued at approximately $17,987,704. This trade represents a 5.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hugh J. Carroll sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the completion of the transaction, the director owned 1,854 shares in the company, valued at approximately $310,118.58. This represents a 35.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,400 shares of company stock worth $2,320,920 in the last 90 days. 0.50% of the stock is owned by company insiders.

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.