1832 Asset Management L.P. Decreases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

1832 Asset Management L.P. cut its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 81.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,247 shares of the restaurant operator’s stock after selling 10,039 shares during the quarter. 1832 Asset Management L.P.’s holdings in Texas Roadhouse were worth $386,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TXRH. LRI Investments LLC purchased a new position in Texas Roadhouse in the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Roadhouse in the second quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in Texas Roadhouse during the second quarter worth approximately $25,000. McClarren Financial Advisors Inc. boosted its stake in Texas Roadhouse by 4,175.0% during the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in Texas Roadhouse during the first quarter worth $32,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Up 0.7 %

NASDAQ TXRH opened at $178.33 on Friday. The stock has a market capitalization of $11.89 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. The firm has a 50 day moving average of $168.10 and a two-hundred day moving average of $164.38. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $180.69.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $1.22 earnings per share. Texas Roadhouse’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.37%. Texas Roadhouse’s payout ratio is currently 49.39%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TXRH shares. Evercore ISI raised their target price on Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday, June 7th. Wedbush reissued an “outperform” rating and set a $190.00 price objective on shares of Texas Roadhouse in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Texas Roadhouse has an average rating of “Hold” and a consensus target price of $172.95.

Texas Roadhouse Company 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.