Meeder Asset Management Inc. Raises Holdings in Texas Roadhouse, Inc. $TXRH

Meeder Asset Management Inc. lifted its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 360.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 52,409 shares of the restaurant operator’s stock after acquiring an additional 41,019 shares during the period. Meeder Asset Management Inc.’s holdings in Texas Roadhouse were worth $8,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TXRH. Alliancebernstein L.P. raised its holdings in shares of Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after buying an additional 2,667,716 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Texas Roadhouse by 85.7% during the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $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 in the 2nd quarter valued at $159,007,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Texas Roadhouse by 2,515.2% in 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 during the last quarter. Finally, Invesco Ltd. lifted its position in Texas Roadhouse by 17.2% during the 2nd quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock worth $487,965,000 after acquiring an additional 382,699 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling

In other Texas Roadhouse news, Director Hugh J. Carroll sold 1,000 shares of the firm’s 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 approximately $310,118.58. This trade represents a 35.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory N. Moore sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total value of $238,000.00. Following the completion of the sale, the director owned 32,150 shares of the company’s stock, valued at $5,465,500. This trade represents a 4.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of research reports. Truist Financial increased their price objective on Texas Roadhouse from $195.00 to $206.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim reiterated a “buy” rating and issued a $210.00 price target on shares of Texas Roadhouse in a report on Tuesday, September 16th. Royal Bank Of Canada decreased their price objective on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, November 7th. Wall Street Zen lowered shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Mizuho raised shares of Texas Roadhouse to a “strong-buy” rating in a report on Tuesday, October 28th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Texas Roadhouse Price Performance

TXRH opened at $183.15 on Monday. The firm has a fifty day moving average price of $169.71 and a 200 day moving average price of $173.30. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $199.99. The stock has a market cap of $12.12 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.87 and a beta of 0.89.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data 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). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is currently 41.59%.

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.