Meridian Wealth Management LLC Decreases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Meridian Wealth Management LLC decreased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,642 shares of the restaurant operator’s stock after selling 69 shares during the period. Meridian Wealth Management LLC’s holdings in Texas Roadhouse were worth $296,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of Texas Roadhouse by 2.0% during the third quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock worth $350,171,000 after purchasing an additional 38,723 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Texas Roadhouse by 1.5% during the third quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock worth $212,261,000 after purchasing an additional 18,126 shares during the last quarter. Barclays PLC lifted its position in shares of Texas Roadhouse by 14.4% during the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock worth $208,539,000 after purchasing an additional 148,462 shares during the last quarter. Geneva Capital Management LLC lifted its position in shares of Texas Roadhouse by 0.4% during the third quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock worth $162,897,000 after purchasing an additional 3,584 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Texas Roadhouse by 81.6% during the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock worth $158,679,000 after purchasing an additional 403,720 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 1,370 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $1,794,600. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $185.86 on Thursday. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.23 and a beta of 1.02. The stock’s 50 day moving average price is $178.69 and its 200 day moving average price is $180.83.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 annualized dividend and a dividend yield of 1.46%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio is currently 42.04%.

Analyst Ratings Changes

TXRH has been the topic of several research analyst reports. Truist Financial reduced their price target on shares of Texas Roadhouse from $209.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Guggenheim cut their target price on shares of Texas Roadhouse from $205.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Citigroup raised their target price on shares of Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a report on Wednesday, January 8th. Finally, Wedbush cut their target price on shares of Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse has a consensus rating of “Moderate Buy” and an average price target 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.