Alps Advisors Inc. cut its position in Texas Roadhouse Inc. (NASDAQ:TXRH) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,524 shares of the company’s stock after selling 699 shares during the period. Alps Advisors Inc.’s holdings in Texas Roadhouse were worth $434,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Texas Roadhouse by 17.0% in the first quarter. Aperio Group LLC now owns 27,624 shares of the company’s stock worth $1,204,000 after buying an additional 4,007 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Texas Roadhouse during the first quarter worth about $771,000. IFP Advisors Inc increased its position in shares of Texas Roadhouse by 24.0% in the first quarter. IFP Advisors Inc now owns 2,908 shares of the company’s stock worth $127,000 after buying an additional 563 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of Texas Roadhouse during the first quarter worth about $324,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Texas Roadhouse during the first quarter worth about $309,000. Institutional investors own 88.84% of the company’s stock.
Texas Roadhouse Inc. (NASDAQ:TXRH) traded up 0.47% during trading on Thursday, hitting $38.17. 837,771 shares of the stock were exchanged. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 24.01 and a beta of 0.54. The stock’s 50 day moving average is $43.07 and its 200-day moving average is $44.24. Texas Roadhouse Inc. has a one year low of $33.06 and a one year high of $49.00.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $509 million for the quarter, compared to analyst estimates of $509.80 million. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. On average, equities research analysts expect that Texas Roadhouse Inc. will post $1.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, September 12th. Texas Roadhouse’s dividend payout ratio (DPR) is 48.10%.
A number of research analysts recently issued reports on TXRH shares. Buckingham Research started coverage on shares of Texas Roadhouse in a research note on Thursday, June 16th. They issued a “neutral” rating and a $47.00 price target for the company. Zacks Investment Research downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Saturday, July 9th. Maxim Group downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Monday, July 18th. Jefferies Group downgraded shares of Texas Roadhouse from a “hold” rating to an “underperform” rating and set a $37.00 price objective for the company. in a research report on Tuesday, July 26th. Finally, Stifel Nicolaus downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $50.00 to $47.00 in a research report on Tuesday, July 26th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $43.78.
In other news, CEO Wayne Kent Taylor sold 150,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the transaction, the chief executive officer now directly owns 4,363,261 shares of the company’s stock, valued at $200,840,903.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Zarley purchased 23,800 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the acquisition, the director now directly owns 104,000 shares of the company’s stock, valued at approximately $4,391,920. The disclosure for this purchase can be found here. Insiders own 7.40% of the company’s stock.
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 hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.
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