Trust Point Inc. Grows Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Trust Point Inc. raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 6.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,041 shares of the restaurant operator’s stock after purchasing an additional 124 shares during the period. Trust Point Inc.’s holdings in Texas Roadhouse were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in shares of Texas Roadhouse by 128.9% in the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares during the last quarter. AQR Capital Management LLC grew its holdings in Texas Roadhouse by 22.3% during the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after buying an additional 165,738 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Texas Roadhouse during the second quarter worth $21,462,000. Millennium Management LLC raised its holdings in shares of Texas Roadhouse by 25.0% in the second quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock worth $100,108,000 after acquiring an additional 116,721 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of Texas Roadhouse by 3,259.4% in the first quarter. Bahl & Gaynor Inc. now owns 92,350 shares of the restaurant operator’s stock valued at $14,265,000 after acquiring an additional 89,601 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TXRH. Citigroup lifted their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company upped their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Guggenheim raised their target price on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. BTIG Research boosted their price target on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, BMO Capital Markets raised their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and an average price target of $177.15.

Texas Roadhouse Stock Up 0.9 %

Texas Roadhouse stock opened at $183.89 on Friday. The firm has a market capitalization of $12.28 billion, a P/E ratio of 37.22, a PEG ratio of 1.59 and a beta of 0.99. The firm has a fifty day moving average of $171.06 and a 200-day moving average of $167.34. Texas Roadhouse, Inc. has a 52-week low of $93.79 and a 52-week high of $184.19.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts expect that Texas Roadhouse, Inc. will post 6.34 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were issued a dividend of $0.61 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.33%. Texas Roadhouse’s payout ratio is currently 49.39%.

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.