Texas Roadhouse, Inc. (NASDAQ:TXRH) Holdings Cut by Armistice Capital LLC

Armistice Capital LLC cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,893 shares of the restaurant operator’s stock after selling 38,887 shares during the quarter. Armistice Capital LLC owned approximately 0.19% of Texas Roadhouse worth $22,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TXRH. Bridgefront Capital LLC bought a new position in Texas Roadhouse during the 4th quarter worth $736,000. Ontario Teachers Pension Plan Board bought a new position in shares of Texas Roadhouse during the first quarter worth about $2,338,000. Bank of Nova Scotia increased its holdings in shares of Texas Roadhouse by 5,135.0% in the 4th quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after acquiring an additional 218,287 shares during the period. Los Angeles Capital Management LLC lifted its position in Texas Roadhouse by 158.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock valued at $3,477,000 after purchasing an additional 13,795 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Texas Roadhouse during the 1st quarter valued at about $4,522,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TXRH. JPMorgan Chase & Co. cut their price target on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. BMO Capital Markets lifted their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Truist Financial increased their price target on Texas Roadhouse from $185.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. BTIG Research lifted their price objective on shares of Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus target price of $172.95.

Texas Roadhouse Stock Up 0.9 %

NASDAQ:TXRH opened at $177.13 on Thursday. The stock has a fifty day simple moving average of $168.10 and a 200 day simple moving average of $164.38. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $179.32.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts predict that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.38%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s payout ratio is 49.39%.

About Texas Roadhouse

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.