GW&K Investment Management LLC Sells 24,970 Shares of Texas Roadhouse, Inc. $TXRH

GW&K Investment Management LLC lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.4% in the third quarter, HoldingsChannel.com reports. The firm owned 720,232 shares of the restaurant operator’s stock after selling 24,970 shares during the period. Texas Roadhouse accounts for approximately 1.1% of GW&K Investment Management LLC’s investment portfolio, making the stock its 8th biggest holding. GW&K Investment Management LLC’s holdings in Texas Roadhouse were worth $119,667,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Texas Roadhouse by 12.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 643,744 shares of the restaurant operator’s stock valued at $106,961,000 after buying an additional 73,537 shares during the period. South Dakota Investment Council raised its stake in Texas Roadhouse by 68.4% during the third quarter. South Dakota Investment Council now owns 15,264 shares of the restaurant operator’s stock worth $2,536,000 after acquiring an additional 6,200 shares during the period. Victory Capital Management Inc. lifted its holdings in Texas Roadhouse by 770.6% in the third quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock worth $161,540,000 after acquiring an additional 860,571 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in Texas Roadhouse by 3.0% in the third quarter. Bahl & Gaynor Inc. now owns 237,600 shares of the restaurant operator’s stock valued at $39,477,000 after acquiring an additional 6,828 shares during the period. Finally, Hendershot Investments Inc. boosted its stake in Texas Roadhouse by 13.1% in the third quarter. Hendershot Investments Inc. now owns 72,111 shares of the restaurant operator’s stock valued at $11,981,000 after acquiring an additional 8,371 shares during the period. Institutional investors own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the sale, the chief executive officer owned 91,774 shares of the company’s stock, valued at $17,987,704. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $178.70 on Thursday. The stock has a market cap of $11.82 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.96 and a beta of 0.86. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $199.99. The business has a fifty day moving average of $182.41 and a 200-day moving average of $173.71.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.25). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s payout ratio is 44.66%.

Analyst Ratings Changes

TXRH has been the topic of several recent research reports. TD Cowen started coverage on Texas Roadhouse in a report on Tuesday, January 20th. They issued a “buy” rating and a $215.00 price target on the stock. Citigroup dropped their target price on Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. KeyCorp reiterated a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, February 20th. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a research report on Monday, November 10th. Finally, BTIG Research reiterated a “buy” rating and issued a $200.00 price objective on shares of Texas Roadhouse in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $196.55.

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.