Steward Partners Investment Advisory LLC Raises Stock Position in Texas Roadhouse, Inc. $TXRH

Steward Partners Investment Advisory LLC grew its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 919.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,929 shares of the restaurant operator’s stock after purchasing an additional 8,053 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Texas Roadhouse were worth $1,673,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXRH. Farther Finance Advisors LLC lifted its position 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 valued at $59,000 after acquiring an additional 58 shares in the last quarter. Advisory Alpha LLC raised its stake in Texas Roadhouse by 3.0% in the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock valued at $344,000 after purchasing an additional 60 shares during the last quarter. Dakota Wealth Management lifted its holdings in Texas Roadhouse by 3.8% in the 2nd quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator’s stock valued at $314,000 after purchasing an additional 61 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Texas Roadhouse by 14.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 74 shares during the last quarter. Finally, Insight Wealth Partners LLC grew its holdings in shares of Texas Roadhouse by 4.3% during the second quarter. Insight Wealth Partners LLC now owns 1,855 shares of the restaurant operator’s stock worth $348,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Evercore ISI downgraded Texas Roadhouse from an “outperform” rating to an “in-line” rating and set a $190.00 price objective on the stock. in a research report on Thursday, September 4th. Morgan Stanley cut their target price on Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Wall Street Zen cut shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Stephens cut their price target on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.95.

Texas Roadhouse Price Performance

Shares of TXRH opened at $175.53 on Friday. The firm has a 50-day simple moving average of $168.59 and a two-hundred day simple moving average of $177.83. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The stock has a market cap of $11.61 billion, a PE ratio of 26.80, a P/E/G ratio of 2.50 and a beta of 0.87.

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

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio 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.