Northwestern Mutual Wealth Management Co. Grows Stake in Texas Roadhouse, Inc. $TXRH

Northwestern Mutual Wealth Management Co. raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 7,490.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,878 shares of the restaurant operator’s stock after purchasing an additional 60,076 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Texas Roadhouse were worth $10,106,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after purchasing an additional 466,176 shares during the period. Capital World Investors increased its position in shares of Texas Roadhouse by 580.2% during the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock worth $371,658,000 after acquiring an additional 1,908,033 shares during the last quarter. UBS Group AG increased its position in shares of Texas Roadhouse by 60.4% during the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock worth $230,317,000 after acquiring an additional 522,509 shares during the last quarter. Steadfast Capital Management LP increased its position in shares of Texas Roadhouse by 99.2% during the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after acquiring an additional 635,178 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Texas Roadhouse by 770.6% during 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. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $210.00 target price on shares of Texas Roadhouse in a research report on Monday. BMO Capital Markets lifted their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Thursday. Truist Financial dropped their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Stephens lifted their target price on Texas Roadhouse from $168.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company dropped their target price on Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and an average target price of $195.77.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 1,700 shares of Texas Roadhouse stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $171.59, for a total value of $291,703.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Hernan E. Mujica sold 5,000 shares of Texas Roadhouse stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $170.00, for a total value of $850,000.00. Following the completion of the transaction, the chief technology officer owned 15,552 shares of the company’s stock, valued at $2,643,840. This trade represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,217 shares of company stock valued at $3,162,560. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Down 0.2%

NASDAQ:TXRH opened at $178.05 on Friday. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.77. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $199.99. The stock has a 50-day simple moving average of $166.93 and a 200 day simple moving average of $173.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $1.70 earnings per share. Sell-side analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is 47.92%.

Texas Roadhouse 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.