GW&K Investment Management LLC Sells 82,525 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

GW&K Investment Management LLC cut its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 887,045 shares of the restaurant operator’s stock after selling 82,525 shares during the period. Texas Roadhouse makes up 1.4% of GW&K Investment Management LLC’s holdings, making the stock its largest position. GW&K Investment Management LLC owned approximately 1.33% of Texas Roadhouse worth $160,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Texas Roadhouse by 81.6% in the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after buying an additional 403,720 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Texas Roadhouse by 76.0% during the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after acquiring an additional 385,998 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $66,609,000. Fiera Capital Corp bought a new stake in shares of Texas Roadhouse in the third quarter worth $41,670,000. Finally, Bank of Montreal Can boosted its holdings in Texas Roadhouse by 2,216.1% during the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock worth $30,831,000 after purchasing an additional 168,669 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory N. Moore sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $168.26, for a total value of $454,302.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,050 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $170.66, for a total transaction of $349,853.00. Following the sale, the chief technology officer now owns 17,162 shares in the company, valued at $2,928,866.92. This represents a 10.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,120 shares of company stock valued at $1,050,015 over the last quarter. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Trading Up 1.2 %

NASDAQ TXRH opened at $177.90 on Friday. The company has a market cap of $11.87 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.23 and a beta of 1.02. The company has a 50 day moving average of $178.51 and a 200-day moving average of $180.31. Texas Roadhouse, Inc. has a 1-year low of $146.75 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. On average, equities research analysts forecast 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, April 1st. Investors of record on Tuesday, March 18th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is 42.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $205.00 to $213.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group assumed coverage on Texas Roadhouse in a research report on Thursday, December 5th. They set a “neutral” rating and a $213.00 price target on the stock. Truist Financial cut their price objective on Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus reduced their target price on Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada dropped their price target on Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a research note on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.73.

About Texas Roadhouse

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.