Alliancebernstein L.P. boosted its holdings in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 41.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 222,630 shares of the restaurant operator’s stock after purchasing an additional 65,260 shares during the quarter. Alliancebernstein L.P. owned about 0.31% of Texas Roadhouse worth $11,728,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kennedy Capital Management Inc. raised its stake in Texas Roadhouse by 2.8% during the 4th quarter. Kennedy Capital Management Inc. now owns 135,485 shares of the restaurant operator’s stock valued at $7,137,000 after purchasing an additional 3,699 shares during the period. Geode Capital Management LLC raised its stake in Texas Roadhouse by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 590,462 shares of the restaurant operator’s stock valued at $31,105,000 after purchasing an additional 8,303 shares during the period. Allianz Asset Management GmbH raised its stake in Texas Roadhouse by 37.4% during the 4th quarter. Allianz Asset Management GmbH now owns 192,251 shares of the restaurant operator’s stock valued at $10,128,000 after purchasing an additional 52,284 shares during the period. Quadrature Capital Ltd bought a new stake in Texas Roadhouse during the 4th quarter valued at approximately $3,605,000. Finally, Eaton Vance Management raised its stake in Texas Roadhouse by 50.3% during the 4th quarter. Eaton Vance Management now owns 591,142 shares of the restaurant operator’s stock valued at $31,141,000 after purchasing an additional 197,951 shares during the period. 87.73% of the stock is currently owned by institutional investors.
In related news, Director James R. Zarley sold 10,900 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $56.82, for a total transaction of $619,338.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Celia Catlett sold 6,337 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $56.11, for a total value of $355,569.07. Following the transaction, the general counsel now owns 26,337 shares of the company’s stock, valued at approximately $1,477,769.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,418 shares of company stock valued at $3,219,565. Company insiders own 7.40% of the company’s stock.
Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Tuesday, February 20th. The restaurant operator reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $545.24 million. Texas Roadhouse had a return on equity of 17.20% and a net margin of 5.93%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. research analysts forecast that Texas Roadhouse Inc will post 2.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be issued a $0.25 dividend. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, March 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. Texas Roadhouse’s payout ratio is 54.35%.
Several research firms have weighed in on TXRH. Mizuho began coverage on Texas Roadhouse in a report on Thursday, March 15th. They set a “buy” rating and a $66.00 price target for the company. Zacks Investment Research cut Texas Roadhouse from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Royal Bank of Canada restated a “hold” rating and set a $58.00 price target on shares of Texas Roadhouse in a report on Friday, February 23rd. Jefferies Group restated a “hold” rating and set a $53.00 price target on shares of Texas Roadhouse in a report on Friday, February 23rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $55.00 price target (down previously from $57.00) on shares of Texas Roadhouse in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.81.
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Texas Roadhouse 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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