Envestnet Asset Management Inc. cut its position in Texas Roadhouse Inc (NASDAQ:TXRH) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,944 shares of the restaurant operator’s stock after selling 3,801 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Texas Roadhouse worth $6,713,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in shares of Texas Roadhouse by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,795 shares of the restaurant operator’s stock worth $943,000 after purchasing an additional 166 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Texas Roadhouse by 8.7% during the fourth quarter. Bank of Montreal Can now owns 2,100 shares of the restaurant operator’s stock worth $126,000 after purchasing an additional 168 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in shares of Texas Roadhouse by 0.3% during the fourth quarter. Exencial Wealth Advisors LLC now owns 51,509 shares of the restaurant operator’s stock worth $3,075,000 after purchasing an additional 177 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Texas Roadhouse by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the restaurant operator’s stock worth $1,113,000 after purchasing an additional 200 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Texas Roadhouse by 34.7% during the fourth quarter. Advisory Services Network LLC now owns 851 shares of the restaurant operator’s stock worth $51,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.
In other Texas Roadhouse news, COO Douglas W. Thompson sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the completion of the sale, the chief operating officer now owns 45,530 shares of the company’s stock, valued at $2,689,457.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Zarley bought 18,900 shares of the stock in a transaction on Wednesday, May 1st. The stock was purchased at an average cost of $52.51 per share, with a total value of $992,439.00. Following the purchase, the director now directly owns 113,100 shares of the company’s stock, valued at approximately $5,938,881. The disclosure for this purchase can be found here. 5.89% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:TXRH opened at $53.79 on Thursday. Texas Roadhouse Inc has a 52 week low of $50.84 and a 52 week high of $75.24. The company has a quick ratio of 0.84, a current ratio of 0.89 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.15 and a beta of 0.61.
Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Monday, April 29th. The restaurant operator reported $0.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.12). Texas Roadhouse had a net margin of 6.11% and a return on equity of 16.17%. The firm had revenue of $690.61 million during the quarter, compared to the consensus estimate of $693.76 million. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Texas Roadhouse Inc will post 2.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, June 12th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, June 11th. Texas Roadhouse’s payout ratio is presently 54.55%.
A number of equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. ValuEngine lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Wedbush restated a “hold” rating and issued a $62.00 price objective on shares of Texas Roadhouse in a report on Wednesday, February 20th. Maxim Group upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $63.00 in a report on Tuesday, June 4th. Finally, Stephens upgraded shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $70.00 price objective on the stock in a report on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.40.
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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 Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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