Renaissance Group LLC Acquires 4,239 Shares of Texas Roadhouse, Inc. $TXRH

Renaissance Group LLC increased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,508 shares of the restaurant operator’s stock after buying an additional 4,239 shares during the quarter. Renaissance Group LLC’s holdings in Texas Roadhouse were worth $8,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in shares of Texas Roadhouse by 528.2% during the 2nd quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after acquiring an additional 2,667,716 shares during the last quarter. AQR Capital Management LLC raised its holdings in Texas Roadhouse by 85.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock worth $439,102,000 after purchasing an additional 1,081,413 shares during the period. Norges Bank purchased a new position in Texas Roadhouse during the second quarter valued at $159,007,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Texas Roadhouse by 2,515.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock valued at $78,158,000 after purchasing an additional 401,098 shares during the period. Finally, Invesco Ltd. grew its holdings in Texas Roadhouse by 17.2% during the second quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock valued at $487,965,000 after purchasing an additional 382,699 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of TXRH opened at $190.97 on Friday. The firm has a market cap of $12.63 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 3.04 and a beta of 0.88. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $199.99. The company has a 50 day simple moving average of $177.66 and a two-hundred day simple moving average of $173.70.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.Texas Roadhouse’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 EPS. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,400 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 32,150 shares in the company, valued at $5,465,500. This trade represents a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hugh J. Carroll sold 1,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the completion of the sale, the director owned 1,854 shares in the company, valued at $310,118.58. This represents a 35.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,400 shares of company stock worth $2,320,920. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TXRH shares. The Goldman Sachs Group lifted their price objective on Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $185.00 price target on shares of Texas Roadhouse in a report on Wednesday, January 7th. TD Cowen initiated coverage on shares of Texas Roadhouse in a research report on Tuesday, January 20th. They issued a “buy” rating and a $215.00 price target for the company. Zacks Research upgraded shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, Mizuho upgraded shares of Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average price target of $197.29.

Texas Roadhouse 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.