Pallas Capital Advisors LLC Has $1.52 Million Stock Position in Texas Roadhouse, Inc. $TXRH

Pallas Capital Advisors LLC lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 51.1% during the third quarter, Holdings Channel reports. The fund owned 9,130 shares of the restaurant operator’s stock after selling 9,545 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Texas Roadhouse were worth $1,517,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. grew its position in Texas Roadhouse by 528.2% during the 2nd quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after purchasing an additional 2,667,716 shares in the last quarter. Invesco Ltd. boosted its position in shares of Texas Roadhouse by 17.2% in the second quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock worth $487,965,000 after buying an additional 382,699 shares during the period. AQR Capital Management LLC boosted its position in shares of Texas Roadhouse by 85.7% in the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock worth $439,102,000 after buying an additional 1,081,413 shares during the period. Geode Capital Management LLC grew its holdings in shares of Texas Roadhouse by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,302,021 shares of the restaurant operator’s stock valued at $244,048,000 after buying an additional 19,296 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Texas Roadhouse by 9.7% during the second quarter. Franklin Resources Inc. now owns 1,011,630 shares of the restaurant operator’s stock valued at $189,590,000 after buying an additional 89,632 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TXRH shares. Wall Street Zen lowered Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Morgan Stanley raised their price target on shares of Texas Roadhouse from $205.00 to $208.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. The Goldman Sachs Group upped their price objective on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. BMO Capital Markets increased their target price on shares of Texas Roadhouse from $155.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Finally, UBS Group restated a “buy” rating on shares of Texas Roadhouse in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of “Moderate Buy” and an average price target of $196.57.

Insider Activity

In related news, Director Hugh J. Carroll sold 1,000 shares of Texas Roadhouse stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total value of $167,270.00. Following the completion of the sale, the director owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. The trade was a 35.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 1,400 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total transaction of $238,000.00. Following the completion of the sale, the director owned 32,150 shares of the company’s stock, valued at $5,465,500. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,400 shares of company stock worth $2,320,920. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $180.90 on Tuesday. The firm has a market cap of $11.97 billion, a PE ratio of 27.66, a PEG ratio of 2.95 and a beta of 0.88. The firm’s 50 day moving average price is $179.44 and its 200 day moving average price is $173.40. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $199.99.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.