Summit Asset Management LLC Raises Stake in Texas Roadhouse, Inc. $TXRH

Summit Asset Management LLC increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,674 shares of the restaurant operator’s stock after acquiring an additional 322 shares during the quarter. Summit Asset Management LLC’s holdings in Texas Roadhouse were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Texas Roadhouse by 478.6% during 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 acquired a new position in shares of Texas Roadhouse in the 1st quarter valued at about $33,000. Ameritas Advisory Services LLC purchased a new stake in shares of Texas Roadhouse in the second quarter worth about $53,000. Farther Finance Advisors LLC boosted its stake in shares of Texas Roadhouse by 22.8% in the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock worth $59,000 after buying an additional 58 shares during the last quarter. Finally, WPG Advisers LLC acquired a new stake in Texas Roadhouse during the first quarter worth about $59,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Texas Roadhouse in a research report on Wednesday, October 8th. UBS Group dropped their price objective on shares of Texas Roadhouse from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. The Goldman Sachs Group decreased their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Stifel Nicolaus increased their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Finally, Zacks Research lowered shares of Texas Roadhouse from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Texas Roadhouse has an average rating of “Moderate Buy” and an average price target of $193.21.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director owned 34,550 shares of the company’s stock, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Regina A. Tobin sold 3,153 shares of the firm’s 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 completion of the transaction, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,342 shares of company stock valued at $1,443,704 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $165.03 on Friday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.50 and a beta of 0.87. The stock has a 50 day simple moving average of $167.61 and a 200-day simple moving average of $177.96.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. Texas Roadhouse’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. Analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a $0.68 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is 41.59%.

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.