Congress Asset Management Co. Sells 95,475 Shares of Texas Roadhouse, Inc. $TXRH

Congress Asset Management Co. lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,763 shares of the restaurant operator’s stock after selling 95,475 shares during the quarter. Congress Asset Management Co.’s holdings in Texas Roadhouse were worth $33,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TXRH. NewEdge Advisors LLC grew its stake in Texas Roadhouse by 3.1% in the second quarter. NewEdge Advisors LLC now owns 2,499 shares of the restaurant operator’s stock valued at $468,000 after purchasing an additional 76 shares during the last quarter. Salomon & Ludwin LLC lifted its position in shares of Texas Roadhouse by 37.2% during the third quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 81 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Texas Roadhouse by 4.4% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 87 shares in the last quarter. Invesco LLC boosted its holdings in shares of Texas Roadhouse by 4.5% in the 3rd quarter. Invesco LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after buying an additional 89 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Texas Roadhouse by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 10,889 shares of the restaurant operator’s stock worth $1,810,000 after buying an additional 103 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, February 23rd. Citigroup lowered their target price on shares of Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. KeyCorp reaffirmed a “sector weight” rating on shares of Texas Roadhouse in a report on Friday, February 20th. Zacks Research raised Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Finally, The Goldman Sachs Group increased their price objective on Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.55.

Texas Roadhouse Stock Up 0.4%

Shares of NASDAQ:TXRH opened at $167.92 on Wednesday. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $199.99. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 1.81 and a beta of 0.86. The business has a 50-day moving average price of $181.15 and a 200-day moving average price of $173.47.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the company earned $1.73 EPS. Texas Roadhouse’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.68. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.26%.

Insiders Place Their Bets

In other news, CTO Hernan E. Mujica sold 5,000 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $170.00, for a total value of $850,000.00. Following the sale, the chief technology officer owned 15,552 shares in the company, valued at $2,643,840. This represents a 24.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donna E. Epps sold 850 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $172.45, for a total transaction of $146,582.50. Following the completion of the sale, the director owned 4,892 shares in the company, valued at $843,625.40. The trade was a 14.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 22,988 shares of company stock worth $4,133,794. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.