Ascent Group LLC Has $2.77 Million Stock Holdings in Texas Roadhouse, Inc. $TXRH

Ascent Group LLC cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,799 shares of the restaurant operator’s stock after selling 3,149 shares during the quarter. Ascent Group LLC’s holdings in Texas Roadhouse were worth $2,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXRH. Merit Financial Group LLC increased its stake in shares of Texas Roadhouse by 237.8% in the first quarter. Merit Financial Group LLC now owns 7,154 shares of the restaurant operator’s stock valued at $1,192,000 after buying an additional 5,036 shares in the last quarter. Vest Financial LLC acquired a new stake in Texas Roadhouse in the first quarter worth about $1,480,000. Stablepoint Partners LLC increased its position in Texas Roadhouse by 1.9% in the first quarter. Stablepoint Partners LLC now owns 8,060 shares of the restaurant operator’s stock worth $1,343,000 after purchasing an additional 148 shares during the period. Congress Asset Management Co. increased its position in Texas Roadhouse by 8,956.4% in the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator’s stock worth $77,596,000 after purchasing an additional 460,537 shares during the period. Finally, UMB Bank n.a. increased its position in Texas Roadhouse by 85.5% in the first quarter. UMB Bank n.a. now owns 803 shares of the restaurant operator’s stock worth $134,000 after purchasing an additional 370 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the sale, the president owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the sale, the chief technology officer owned 17,553 shares in the company, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock worth $1,443,704 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

TXRH has been the subject of a number of research reports. Citigroup lifted their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Roadhouse in a research report on Saturday, September 27th. Melius Research upgraded Texas Roadhouse to a “strong-buy” rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Finally, Guggenheim reiterated a “buy” rating and issued a $210.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, September 16th. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $196.10.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $166.49 on Friday. The stock has a market capitalization of $11.06 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.28 and a beta of 0.82. The stock’s 50 day moving average price is $171.82 and its two-hundred day moving average price is $177.10. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 EPS. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.68 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio is currently 41.53%.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.