CIBC Asset Management Inc Increases Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

CIBC Asset Management Inc boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 3.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,952 shares of the restaurant operator’s stock after buying an additional 62 shares during the period. CIBC Asset Management Inc’s holdings in Texas Roadhouse were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Texas Roadhouse by 13.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,829 shares of the restaurant operator’s stock worth $746,000 after acquiring an additional 591 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Texas Roadhouse by 17.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 50,979 shares of the restaurant operator’s stock worth $7,875,000 after acquiring an additional 7,740 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Texas Roadhouse by 4.8% in the first quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock worth $414,000 after acquiring an additional 122 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Texas Roadhouse during the first quarter worth $6,725,000. Finally, 1832 Asset Management L.P. acquired a new position in Texas Roadhouse during the first quarter worth $1,898,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $193.18 on Friday. The firm has a fifty day moving average of $182.25 and a 200-day moving average of $173.45. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.98. Texas Roadhouse, Inc. has a 1 year low of $110.69 and a 1 year high of $203.32.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Texas Roadhouse’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 annualized dividend and a yield of 1.26%. Texas Roadhouse’s payout ratio is presently 41.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Bank of America boosted their price objective on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Stephens boosted their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. BTIG Research boosted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Guggenheim boosted their price objective on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada boosted their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and an average target price of $189.00.

Insider Buying and Selling at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the completion of the sale, the chief technology officer now owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. The trade was a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares of the company’s stock, valued at approximately $691,071.12. The trade was a 14.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.