Oppenheimer Asset Management Inc. Purchases New Shares in Texas Roadhouse, Inc. $TXRH

Oppenheimer Asset Management Inc. purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 11,531 shares of the restaurant operator’s stock, valued at approximately $2,228,000.

Other institutional investors have also added to or reduced their stakes in the company. Stephens Investment Management Group LLC lifted its position in Texas Roadhouse by 98.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock valued at $61,457,000 after acquiring an additional 183,422 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Texas Roadhouse in the fourth quarter worth about $977,000. Amica Mutual Insurance Co. purchased a new stake in Texas Roadhouse in the fourth quarter worth about $989,000. Geode Capital Management LLC grew its holdings in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after purchasing an additional 24,834 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $29,714,000. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Texas Roadhouse in a report on Monday, August 10th. TD Cowen boosted their target price on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. BMO Capital Markets raised their price target on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Barclays lowered their price target on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price target on shares of Texas Roadhouse in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $208.48.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $207.10 on Monday. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $216.30. The stock has a 50-day moving average of $191.57 and a 200 day moving average of $179.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.05 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS. On average, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s payout ratio is presently 48.00%.

Insider Activity

In related news, insider Christopher C. Colson sold 499 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the transaction, the insider owned 14,500 shares in the company, valued at $2,598,690. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the sale, the general counsel owned 860 shares in the company, valued at $165,575.80. This represents a 33.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,925 shares of company stock valued at $796,409 over the last three months. Insiders own 0.50% of the company’s stock.

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.