ProShare Advisors LLC Reduces Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

ProShare Advisors LLC lowered its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,150 shares of the restaurant operator’s stock after selling 109 shares during the period. ProShare Advisors LLC’s holdings in Texas Roadhouse were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Corient Private Wealth LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $873,000. US Bancorp DE boosted its position in Texas Roadhouse by 5.8% during the 4th quarter. US Bancorp DE now owns 11,369 shares of the restaurant operator’s stock valued at $1,390,000 after acquiring an additional 620 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Texas Roadhouse by 416.6% during the 4th quarter. Allianz Asset Management GmbH now owns 45,573 shares of the restaurant operator’s stock worth $5,570,000 after acquiring an additional 36,751 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Texas Roadhouse by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 29,650 shares of the restaurant operator’s stock worth $3,624,000 after acquiring an additional 290 shares during the period. Finally, KBC Group NV bought a new position in shares of Texas Roadhouse in the 4th quarter worth approximately $148,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TXRH. Morgan Stanley increased their price objective on Texas Roadhouse from $155.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Wedbush reissued an “outperform” rating and set a $190.00 price target on shares of Texas Roadhouse in a research report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Evercore ISI lifted their target price on shares of Texas Roadhouse from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Guggenheim upped their price target on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Texas Roadhouse presently has an average rating of “Hold” and a consensus target price of $175.70.

Texas Roadhouse Stock Up 1.0 %

TXRH opened at $176.60 on Tuesday. Texas Roadhouse, Inc. has a twelve month low of $91.06 and a twelve month high of $180.69. The firm has a 50 day moving average price of $168.36 and a 200-day moving average price of $164.83. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 1.58 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last released 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. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. As a group, analysts expect that Texas Roadhouse, Inc. will post 6.33 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were given a $0.61 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.38%. 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.