Nordea Investment Management AB Cuts Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Nordea Investment Management AB trimmed its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 48.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 513,483 shares of the restaurant operator’s stock after selling 479,325 shares during the quarter. Nordea Investment Management AB owned about 0.77% of Texas Roadhouse worth $93,346,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TXRH. Kingsview Wealth Management LLC increased its stake in Texas Roadhouse by 3.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after acquiring an additional 54 shares during the last quarter. CIBC Asset Management Inc increased its position in Texas Roadhouse by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after purchasing an additional 62 shares during the last quarter. Insight Wealth Partners LLC increased its position in Texas Roadhouse by 3.9% in the third quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock worth $321,000 after purchasing an additional 68 shares during the last quarter. PSI Advisors LLC raised its stake in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in Texas Roadhouse by 5.4% during the third quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock valued at $259,000 after purchasing an additional 75 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $180.97 on Tuesday. Texas Roadhouse, Inc. has a one year low of $115.48 and a one year high of $206.04. The company has a market capitalization of $12.07 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company’s 50-day simple moving average is $191.47 and its two-hundred day simple moving average is $178.24.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Equities analysts expect that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Tuesday, December 10th. Texas Roadhouse’s payout ratio is currently 41.92%.

Analyst Ratings Changes

TXRH has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, October 25th. UBS Group upped their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America lifted their target price on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $200.00 price target on shares of Texas Roadhouse in a report on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 price objective for the company. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus target price of $190.09.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares in the company, valued at $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.