NewEdge Advisors LLC Grows Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

NewEdge Advisors LLC raised its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,164 shares of the restaurant operator’s stock after acquiring an additional 179 shares during the quarter. NewEdge Advisors LLC’s holdings in Texas Roadhouse were worth $390,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $36,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Texas Roadhouse by 32.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator’s stock valued at $48,000 after buying an additional 65 shares during the period. VisionPoint Advisory Group LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $64,000. Finally, Asset Planning Inc purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $74,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,154 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the sale, the president now owns 18,414 shares of the company’s stock, valued at approximately $3,418,374.96. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Hernan E. Mujica sold 2,050 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $170.66, for a total value of $349,853.00. Following the sale, the chief technology officer now directly owns 17,162 shares of the company’s stock, valued at $2,928,866.92. This represents a 10.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,535 shares of company stock valued at $2,952,507. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TXRH. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Robert W. Baird set a $180.00 price objective on shares of Texas Roadhouse and gave the stock an “outperform” rating in a report on Monday, April 7th. Royal Bank of Canada cut their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a “sector perform” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price objective on the stock. in a report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.29.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $164.67 on Wednesday. The business’s fifty day moving average is $169.21 and its 200 day moving average is $179.92. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The company has a market capitalization of $10.94 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.65%. The ex-dividend date was Tuesday, March 18th. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s payout ratio is currently 42.04%.

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.