Parallel Advisors LLC Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Parallel Advisors LLC lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,951 shares of the restaurant operator’s stock after buying an additional 248 shares during the quarter. Parallel Advisors LLC’s holdings in Texas Roadhouse were worth $1,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Federated Hermes Inc. increased its holdings in Texas Roadhouse by 7.0% during the 2nd quarter. Federated Hermes Inc. now owns 147,553 shares of the restaurant operator’s stock worth $25,336,000 after purchasing an additional 9,618 shares during the period. GHP Investment Advisors Inc. increased its holdings in Texas Roadhouse by 2.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 47,901 shares of the restaurant operator’s stock worth $8,225,000 after purchasing an additional 1,228 shares during the period. Meeder Asset Management Inc. purchased a new position in Texas Roadhouse during the 2nd quarter worth $2,643,000. American Century Companies Inc. increased its holdings in Texas Roadhouse by 6.4% during the 2nd quarter. American Century Companies Inc. now owns 154,811 shares of the restaurant operator’s stock worth $26,583,000 after purchasing an additional 9,288 shares during the period. Finally, Bahl & Gaynor Inc. increased its holdings in Texas Roadhouse by 40.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 129,265 shares of the restaurant operator’s stock worth $22,196,000 after purchasing an additional 36,915 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $163.92 on Monday. The stock has a 50-day simple moving average of $167.99 and a two-hundred day simple moving average of $163.34. The firm has a market capitalization of $10.95 billion, a P/E ratio of 33.18, a PEG ratio of 1.46 and a beta of 0.99. Texas Roadhouse, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $177.72.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the business earned $1.22 EPS. Texas Roadhouse’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts forecast that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.49%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Analyst Ratings Changes

Several research analysts have commented on TXRH shares. BMO Capital Markets raised their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. BTIG Research increased their target price on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on Texas Roadhouse from $165.00 to $175.00 and gave the company a “sector perform” rating in a research report on Friday, June 7th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.85.

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.