Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Bought by Ardevora Asset Management LLP
Ardevora Asset Management LLP raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 18.4% during the second quarter, Holdings Channel reports. The institutional investor owned 737,100 shares of the restaurant operator’s stock after buying an additional 114,800 shares during the period. Texas Roadhouse makes up approximately 1.2% of Ardevora Asset Management LLP’s holdings, making the stock its 16th largest position. Ardevora Asset Management LLP’s holdings in Texas Roadhouse were worth $37,555,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Texas Roadhouse by 22,841.1% in the first quarter. BlackRock Inc. now owns 6,542,337 shares of the restaurant operator’s stock valued at $291,331,000 after buying an additional 6,513,819 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Texas Roadhouse by 4.5% in the first quarter. Vanguard Group Inc. now owns 5,103,625 shares of the restaurant operator’s stock valued at $227,264,000 after buying an additional 218,000 shares in the last quarter. State Street Corp boosted its stake in shares of Texas Roadhouse by 2.9% in the first quarter. State Street Corp now owns 2,112,603 shares of the restaurant operator’s stock valued at $94,078,000 after buying an additional 60,092 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Texas Roadhouse by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,627,108 shares of the restaurant operator’s stock valued at $72,455,000 after buying an additional 35,280 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in shares of Texas Roadhouse by 19.8% in the first quarter. Congress Asset Management Co. MA now owns 1,384,049 shares of the restaurant operator’s stock valued at $61,632,000 after buying an additional 229,189 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors and hedge funds.
Texas Roadhouse, Inc. (NASDAQ:TXRH) traded up 0.30% during mid-day trading on Monday, reaching $50.22. 255,676 shares of the company’s stock were exchanged. The company has a market capitalization of $3.56 billion, a P/E ratio of 31.17 and a beta of 0.56. The company’s 50 day moving average price is $49.49 and its 200-day moving average price is $46.87. Texas Roadhouse, Inc. has a 52 week low of $37.23 and a 52 week high of $51.91.
Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, May 1st. The restaurant operator reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Texas Roadhouse had a return on equity of 16.42% and a net margin of 5.60%. The company had revenue of $567.70 million for the quarter, compared to analyst estimates of $560.74 million. During the same period in the prior year, the company posted $0.50 EPS. Texas Roadhouse’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts expect that Texas Roadhouse, Inc. will post $1.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, June 14th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, June 12th. Texas Roadhouse’s payout ratio is 52.50%.
Several analysts have recently issued reports on TXRH shares. Morgan Stanley increased their price target on shares of Texas Roadhouse from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC reissued an “underperform” rating and set a $40.00 price target (up previously from $38.00) on shares of Texas Roadhouse in a research report on Tuesday, May 2nd. BidaskClub raised shares of Texas Roadhouse from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Canaccord Genuity raised their target price on shares of Texas Roadhouse from $42.00 to $49.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Finally, Longbow Research reaffirmed a “buy” rating and issued a $56.00 target price on shares of Texas Roadhouse in a report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.55.
In other Texas Roadhouse news, insider Scott Matthew Colosi sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $49.54, for a total value of $495,400.00. Following the transaction, the insider now directly owns 60,058 shares of the company’s stock, valued at approximately $2,975,273.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathy Widmer sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $48.97, for a total value of $254,644.00. Following the completion of the transaction, the director now directly owns 13,750 shares in the company, valued at $673,337.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,537 shares of company stock worth $1,275,317. 6.60% of the stock is currently owned by corporate insiders.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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