Meeder Asset Management Inc. Sells 42,552 Shares of Texas Roadhouse, Inc. $TXRH

Meeder Asset Management Inc. cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 87.3% during the first quarter, Holdings Channel reports. The institutional investor owned 6,206 shares of the restaurant operator’s stock after selling 42,552 shares during the quarter. Meeder Asset Management Inc.’s holdings in Texas Roadhouse were worth $1,025,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new position in Texas Roadhouse during the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC purchased a new stake in Texas Roadhouse in the fourth quarter worth about $31,000. Measured Wealth Private Client Group LLC purchased a new stake in Texas Roadhouse in the third quarter worth about $33,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $34,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Texas Roadhouse by 137.5% during the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 154 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Lloyd Paul Marshall sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total transaction of $178,340.00. Following the completion of the sale, the insider directly owned 10,326 shares in the company, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Sean G. Renfroe sold 426 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel directly owned 860 shares of the company’s stock, valued at approximately $165,575.80. This represents a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,154 shares of company stock worth $1,115,864. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Down 0.4%

Shares of NASDAQ TXRH opened at $196.26 on Tuesday. The firm’s 50 day moving average price is $180.80 and its 200-day moving average price is $176.73. The company has a market cap of $12.90 billion, a PE ratio of 31.35, a P/E/G ratio of 2.11 and a beta of 0.78. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $200.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.Texas Roadhouse’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.70 EPS. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 6.44 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Texas Roadhouse from $200.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $201.00 price objective on shares of Texas Roadhouse in a research report on Friday, May 8th. Guggenheim reiterated a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a research note on Monday, May 18th. BMO Capital Markets boosted their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. Finally, Royal Bank Of Canada raised Texas Roadhouse from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $180.00 to $210.00 in a report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $194.90.

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.