Jennison Associates LLC Has $28.75 Million Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Jennison Associates LLC lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 12.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 235,174 shares of the restaurant operator’s stock after selling 33,104 shares during the period. Jennison Associates LLC owned approximately 0.35% of Texas Roadhouse worth $28,745,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. boosted its holdings in Texas Roadhouse by 40.7% in the 3rd quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after purchasing an additional 370,627 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Texas Roadhouse by 60.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after purchasing an additional 294,425 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Texas Roadhouse by 164.8% during the 3rd quarter. California Public Employees Retirement System now owns 362,059 shares of the restaurant operator’s stock worth $34,794,000 after acquiring an additional 225,338 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Texas Roadhouse by 26.3% during the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock worth $94,735,000 after acquiring an additional 205,064 shares during the period. Finally, ING Groep NV bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth approximately $18,622,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Down 0.1 %

Shares of NASDAQ TXRH opened at $156.76 on Thursday. Texas Roadhouse, Inc. has a 12-month low of $91.06 and a 12-month high of $158.54. The firm has a market cap of $10.48 billion, a PE ratio of 34.60, a P/E/G ratio of 1.70 and a beta of 0.99. The company’s fifty day simple moving average is $150.64 and its 200 day simple moving average is $126.62.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 15th. The restaurant operator reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.89 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts predict that Texas Roadhouse, Inc. will post 5.77 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were given a dividend of $0.61 per share. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, March 12th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 53.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TXRH shares. Stephens began coverage on shares of Texas Roadhouse in a report on Friday, April 12th. They set an “equal weight” rating and a $150.00 price target for the company. Truist Financial upped their price objective on shares of Texas Roadhouse from $152.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Wedbush upped their price objective on shares of Texas Roadhouse from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Northcoast Research cut shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Finally, UBS Group upped their price objective on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and a consensus target price of $138.76.

Insider Activity at Texas Roadhouse

In related news, Director Donna E. Epps sold 670 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Donna E. Epps sold 670 shares of Texas Roadhouse stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $149.97, for a total value of $100,479.90. Following the completion of the transaction, the director now owns 4,142 shares in the company, valued at $621,175.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The disclosure for this sale can be found here. Insiders have sold 12,382 shares of company stock valued at $1,843,145 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Profile

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.