T. Rowe Price Investment Management Inc. Increases Stock Position in Texas Roadhouse, Inc. $TXRH

T. Rowe Price Investment Management Inc. increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 209.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,609,608 shares of the restaurant operator’s stock after acquiring an additional 1,089,256 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.42% of Texas Roadhouse worth $268,209,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its stake in Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock valued at $27,000 after buying an additional 134 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock valued at $35,000 after buying an additional 71 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Texas Roadhouse during the 1st quarter valued at $33,000. Park Place Capital Corp raised its stake in Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator’s stock valued at $61,000 after buying an additional 303 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator’s stock valued at $63,000 after buying an additional 112 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Barclays boosted their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Bank of America boosted their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Stifel Nicolaus boosted their target price on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a “hold” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $197.85.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $173.23 on Thursday. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The firm has a fifty day moving average price of $184.64 and a 200-day moving average price of $178.89. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.40 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.79 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.6%. Texas Roadhouse’s dividend payout ratio is currently 41.53%.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares of the company’s stock, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps sold 800 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the transaction, the director directly owned 4,632 shares of the company’s stock, valued at $863,960.64. This represents a 14.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,953 shares of company stock valued at $1,215,536. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Profile

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.