Red Spruce Capital LLC Sells 334 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Red Spruce Capital LLC lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,399 shares of the restaurant operator’s stock after selling 334 shares during the quarter. Texas Roadhouse comprises 1.4% of Red Spruce Capital LLC’s holdings, making the stock its 21st largest holding. Red Spruce Capital LLC’s holdings in Texas Roadhouse were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXRH. TFC Financial Management Inc. lifted its holdings in shares of Texas Roadhouse by 480.0% during the 1st quarter. TFC Financial Management Inc. now owns 290 shares of the restaurant operator’s stock valued at $31,000 after purchasing an additional 240 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Texas Roadhouse in the 2nd quarter worth approximately $32,000. Belpointe Asset Management LLC grew its position in Texas Roadhouse by 71.9% during the 1st quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 192 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new position in Texas Roadhouse during the 4th quarter valued at approximately $44,000. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Texas Roadhouse by 310.5% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 546 shares of the restaurant operator’s stock worth $50,000 after buying an additional 413 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded up $0.53 during midday trading on Thursday, reaching $100.98. The company had a trading volume of 98,989 shares, compared to its average volume of 954,465. Texas Roadhouse, Inc. has a 12-month low of $83.29 and a 12-month high of $118.16. The company has a market capitalization of $6.74 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.25 and a beta of 0.96. The firm’s fifty day simple moving average is $108.36 and its 200-day simple moving average is $108.54.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, July 27th. The restaurant operator reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.01. Texas Roadhouse had a return on equity of 27.77% and a net margin of 6.69%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Texas Roadhouse, Inc. will post 4.65 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Wednesday, September 6th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, September 5th. Texas Roadhouse’s dividend payout ratio (DPR) is 50.93%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TXRH shares. Barclays reduced their target price on Texas Roadhouse from $110.00 to $108.00 in a research note on Friday, July 28th. 888 reaffirmed a “reiterates” rating on shares of Texas Roadhouse in a report on Thursday, June 29th. StockNews.com began coverage on shares of Texas Roadhouse in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Piper Sandler started coverage on shares of Texas Roadhouse in a research note on Monday, July 17th. They set an “overweight” rating and a $126.00 price objective for the company. Finally, Citigroup dropped their price objective on shares of Texas Roadhouse from $135.00 to $128.00 in a report on Friday, July 28th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.45.

Insider Transactions at Texas Roadhouse

In related news, Director Gregory N. Moore sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $108.88, for a total transaction of $217,760.00. Following the completion of the sale, the director now owns 49,050 shares of the company’s stock, valued at approximately $5,340,564. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company 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.