Massachusetts Financial Services Co. MA Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Massachusetts Financial Services Co. MA bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 3rd quarter, Holdings Channel reports. The firm bought 101,094 shares of the restaurant operator’s stock, valued at approximately $17,853,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TXRH. Marshall Wace LLP lifted its stake in Texas Roadhouse by 128.9% in the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after acquiring an additional 430,814 shares during the period. Fiera Capital Corp bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at about $41,670,000. AQR Capital Management LLC lifted its position in shares of Texas Roadhouse by 22.3% in the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after purchasing an additional 165,738 shares during the period. Jennison Associates LLC boosted its stake in shares of Texas Roadhouse by 29.1% during the third quarter. Jennison Associates LLC now owns 622,561 shares of the restaurant operator’s stock valued at $109,944,000 after purchasing an additional 140,439 shares in the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in Texas Roadhouse during the second quarter valued at approximately $21,462,000. Institutional investors own 94.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Donna E. Epps sold 610 shares of the firm’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 transaction of $119,352.60. Following the sale, the director now owns 3,532 shares of the company’s stock, valued at $691,071.12. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Up 3.7 %

Texas Roadhouse stock opened at $202.12 on Tuesday. The stock has a 50-day moving average price of $184.27 and a 200 day moving average price of $174.14. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98. Texas Roadhouse, Inc. has a 52 week low of $110.88 and a 52 week high of $203.32.

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

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.21%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s payout ratio is 41.92%.

Analysts Set New Price Targets

Several analysts have issued reports on TXRH shares. Robert W. Baird increased their target price on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus lifted their target price on Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Loop Capital reduced their target price on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a report on Monday, October 28th. UBS Group raised their price target on shares of Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus target price of $189.00.

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.