Texas Roadhouse, Inc. $TXRH Stake Boosted by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 8.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,541,791 shares of the restaurant operator’s stock after acquiring an additional 119,803 shares during the period. Wellington Management Group LLP’s holdings in Texas Roadhouse were worth $297,920,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Texas Roadhouse in the 2nd quarter worth approximately $1,273,173,000. Balyasny Asset Management L.P. bought a new position in shares of Texas Roadhouse in the 3rd quarter valued at about $157,310,000. Norges Bank acquired a new position in Texas Roadhouse during the fourth quarter worth approximately $145,734,000. Steadfast Capital Management LP lifted its position in Texas Roadhouse by 99.2% during the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after acquiring an additional 635,178 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Texas Roadhouse in the second quarter valued at approximately $113,993,000. Institutional investors own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In other news, Director Hugh J. Carroll sold 650 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director owned 2,883 shares in the company, valued at approximately $588,103.17. This represents a 18.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the transaction, the director owned 26,900 shares in the company, valued at $5,603,808. This trade represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,396 shares of company stock worth $4,143,825 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TXRH has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Mizuho lifted their price objective on Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BMO Capital Markets raised their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. Benchmark reissued a “hold” rating on shares of Texas Roadhouse in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.48.

Texas Roadhouse Price Performance

TXRH stock opened at $198.99 on Monday. The stock has a market capitalization of $13.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The firm has a 50 day moving average of $198.20 and a 200 day moving average of $180.71. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.86 earnings per share. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 48.00%.

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.