Texas Roadhouse, Inc. $TXRH Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC trimmed its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,600 shares of the restaurant operator’s stock after selling 4,115 shares during the quarter. Merit Financial Group LLC’s holdings in Texas Roadhouse were worth $1,429,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TXRH. Alliancebernstein L.P. grew its stake in shares of Texas Roadhouse by 528.2% during the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after purchasing an additional 2,667,716 shares in the last quarter. Axiom Investors LLC DE raised its stake in Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after buying an additional 2,116,552 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Texas Roadhouse by 85.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock worth $439,102,000 after buying an additional 1,081,413 shares during the last quarter. Norges Bank acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth about $159,007,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Texas Roadhouse by 2,515.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock worth $78,158,000 after acquiring an additional 401,098 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Trading Up 3.2%

Shares of TXRH opened at $171.36 on Monday. The company’s 50 day simple moving average is $168.71 and its 200-day simple moving average is $173.66. The firm has a market cap of $11.34 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Guggenheim reissued a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 16th. Wall Street Zen cut shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research downgraded shares of Texas Roadhouse from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Finally, Royal Bank Of Canada cut their price target on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average price target of $194.26.

Insider Activity

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total transaction of $238,000.00. Following the completion of the sale, the director directly owned 32,150 shares of the company’s stock, valued at $5,465,500. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hugh J. Carroll sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the sale, the director directly owned 1,854 shares of the company’s stock, valued at $310,118.58. The trade was a 35.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.