Seven Bridges Advisors LLC Raises Position in Texas Roadhouse, Inc. (TXRH)
Seven Bridges Advisors LLC increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 8,077 shares of the restaurant operator’s stock after buying an additional 39 shares during the period. Seven Bridges Advisors LLC’s holdings in Texas Roadhouse were worth $412,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in TXRH. BlackRock Inc. raised its position 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. raised its position 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 raised its position 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 raised its position 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 raised its position in shares of Texas Roadhouse by 6.5% in the second quarter. Congress Asset Management Co. MA now owns 1,474,080 shares of the restaurant operator’s stock valued at $75,104,000 after buying an additional 90,031 shares in the last quarter. Hedge funds and other institutional investors own 88.87% of the company’s stock.
Shares of Texas Roadhouse, Inc. (TXRH) opened at 48.79 on Wednesday. The firm has a 50-day moving average of $49.86 and a 200-day moving average of $47.17. The company has a market capitalization of $3.46 billion, a P/E ratio of 29.37 and a beta of 0.54. Texas Roadhouse, Inc. has a 12 month low of $37.23 and a 12 month high of $51.91.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, July 31st. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. Texas Roadhouse had a net margin of 5.63% and a return on equity of 16.49%. The company had revenue of $566.30 million during the quarter, compared to analysts’ expectations of $563.23 million. During the same period last year, the company posted $0.47 EPS. Texas Roadhouse’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Texas Roadhouse, Inc. will post $1.93 earnings per share for the current year.
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TXRH has been the topic of several research reports. Zacks Investment Research upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Friday, July 21st. Morgan Stanley upped their price objective on shares of Texas Roadhouse from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated an “underperform” rating and set a $40.00 price objective (up previously from $38.00) on shares of Texas Roadhouse in a report on Tuesday, May 2nd. BidaskClub upgraded shares of Texas Roadhouse from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Canaccord Genuity upped their price objective 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.11.
In other Texas Roadhouse news, Director Kathy Widmer sold 5,200 shares of Texas Roadhouse stock in a transaction dated 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 of the company’s stock, valued at $673,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.60% of the stock is currently owned by 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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