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

MGB Wealth Management LLC reduced its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 67.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,432 shares of the restaurant operator’s stock after selling 5,108 shares during the quarter. MGB Wealth Management LLC’s holdings in Texas Roadhouse were worth $406,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Erste Asset Management GmbH grew 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 worth $23,383,000 after acquiring an additional 22,971 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Texas Roadhouse by 1.5% during the third quarter. Xponance Inc. now owns 13,826 shares of the restaurant operator’s stock worth $2,297,000 after purchasing an additional 201 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Texas Roadhouse by 132.3% during the third quarter. Intech Investment Management LLC now owns 7,568 shares of the restaurant operator’s stock worth $1,257,000 after purchasing an additional 4,310 shares during the period. MAI Capital Management grew its stake in shares of Texas Roadhouse by 45.4% in the third quarter. MAI Capital Management now owns 461 shares of the restaurant operator’s stock worth $77,000 after purchasing an additional 144 shares during the last quarter. Finally, Waddell & Associates LLC increased its holdings in Texas Roadhouse by 25.7% during the 3rd quarter. Waddell & Associates LLC now owns 1,952 shares of the restaurant operator’s stock valued at $324,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citigroup dropped their price objective on Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, February 20th. UBS Group restated a “buy” rating on shares of Texas Roadhouse in a report on Monday, November 10th. BMO Capital Markets reiterated a “market perform” rating and issued a $165.00 price target on shares of Texas Roadhouse in a report on Friday, February 20th. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Royal Bank Of Canada dropped their target price on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.55.

Texas Roadhouse Trading Up 1.4%

Shares of Texas Roadhouse stock opened at $184.37 on Friday. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $199.99. The firm has a market capitalization of $12.20 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.96 and a beta of 0.88. The business has a fifty day simple moving average of $181.68 and a two-hundred day simple moving average of $173.54.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly 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 business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis 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 presently 44.66%.

Insider Buying and Selling

In related news, Director Hugh J. Carroll sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the sale, the director owned 1,854 shares in the company, valued at $310,118.58. This represents a 35.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gregory N. Moore sold 1,400 shares of Texas Roadhouse stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total value of $238,000.00. Following the transaction, the director owned 32,150 shares of the company’s stock, valued at $5,465,500. The trade was a 4.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,400 shares of company stock worth $2,320,920 in the last 90 days. Insiders own 0.50% of the company’s stock.

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.