Oppenheimer Asset Management Inc. Sells 3,048 Shares of Texas Roadhouse, Inc. $TXRH

Oppenheimer Asset Management Inc. lessened its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,198 shares of the restaurant operator’s stock after selling 3,048 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Texas Roadhouse were worth $3,410,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TXRH. Brooklyn Investment Group raised its position in Texas Roadhouse by 478.6% in the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 134 shares during the period. Bogart Wealth LLC purchased a new stake in shares of Texas Roadhouse in the first quarter worth approximately $33,000. Ameritas Advisory Services LLC bought a new stake in shares of Texas Roadhouse during the 2nd quarter worth approximately $53,000. WPG Advisers LLC purchased a new position in Texas Roadhouse during the 1st quarter valued at $59,000. Finally, Farther Finance Advisors LLC grew its position in Texas Roadhouse by 22.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 58 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $172.56 on Wednesday. The company has a market cap of $11.47 billion, a PE ratio of 26.35, a P/E/G ratio of 2.55 and a beta of 0.82. The firm’s 50 day moving average price is $169.23 and its 200-day moving average price is $177.81. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04.

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

Texas Roadhouse Dividend Announcement

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

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,189 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the transaction, the chief technology officer directly owned 17,553 shares in the company, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the sale, the president directly owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,342 shares of company stock worth $1,443,704 over the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TXRH shares. Stephens set a $175.00 target price on shares of Texas Roadhouse in a research note on Monday, October 13th. Melius began coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They set a “buy” rating and a $235.00 price objective for the company. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. reduced their target price on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Finally, Stifel Nicolaus boosted their price target on Texas Roadhouse from $180.00 to $188.00 and gave the company a “hold” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and an average price target of $196.16.

About Texas Roadhouse

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.