M&G PLC Boosts Stake in Texas Roadhouse, Inc. $TXRH

M&G PLC raised its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 16.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,634 shares of the restaurant operator’s stock after buying an additional 10,975 shares during the quarter. M&G PLC owned about 0.12% of Texas Roadhouse worth $13,219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TXRH. Texas Yale Capital Corp. lifted its position in shares of Texas Roadhouse by 15.9% in the third quarter. Texas Yale Capital Corp. now owns 20,553 shares of the restaurant operator’s stock valued at $3,415,000 after acquiring an additional 2,818 shares in the last quarter. Smithfield Trust Co purchased a new stake in Texas Roadhouse during the 3rd quarter worth about $93,000. State of New Jersey Common Pension Fund D raised its stake in Texas Roadhouse by 3.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,341 shares of the restaurant operator’s stock valued at $3,546,000 after purchasing an additional 692 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Texas Roadhouse by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 10,889 shares of the restaurant operator’s stock valued at $1,810,000 after purchasing an additional 103 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new position in Texas Roadhouse in the 3rd quarter valued at about $391,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $180.90 on Tuesday. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $199.99. The firm has a 50 day moving average price of $179.44 and a 200 day moving average price of $173.40. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 2.95 and a beta of 0.88.

Insider Activity

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,400 shares of the business’s stock in a transaction dated 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 approximately $5,465,500. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total value of $980,000.00. Following the sale, the chief executive officer owned 91,774 shares of the company’s stock, valued at $17,987,704. This represents a 5.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,400 shares of company stock valued at $2,320,920 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TXRH shares. Mizuho lifted their price target on shares of Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Royal Bank Of Canada decreased their target price on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Zacks Research upgraded Texas Roadhouse from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Barclays raised their price objective on Texas Roadhouse from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $196.57.

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.