Congress Asset Management Co. MA decreased its stake in Texas Roadhouse Inc (NASDAQ:TXRH) by 99.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,317 shares of the restaurant operator’s stock after selling 1,463,893 shares during the period. Congress Asset Management Co. MA’s holdings in Texas Roadhouse were worth $339,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Texas Roadhouse in the 2nd quarter worth $494,000. JPMorgan Chase & Co. grew its holdings in shares of Texas Roadhouse by 8.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 957,199 shares of the restaurant operator’s stock worth $52,091,000 after acquiring an additional 74,010 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Texas Roadhouse by 69.6% during the second quarter. GSA Capital Partners LLP now owns 17,608 shares of the restaurant operator’s stock valued at $945,000 after buying an additional 7,226 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of Texas Roadhouse during the second quarter valued at $1,866,000. Finally, WCM Investment Management LLC grew its holdings in shares of Texas Roadhouse by 23.4% during the second quarter. WCM Investment Management LLC now owns 26,354 shares of the restaurant operator’s stock valued at $1,414,000 after buying an additional 4,992 shares in the last quarter. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
TXRH stock traded up $0.74 during trading hours on Friday, reaching $54.05. 32,694 shares of the stock were exchanged, compared to its average volume of 853,705. The firm’s 50-day moving average is $52.92 and its 200-day moving average is $56.07. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.09 and a beta of 0.61. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.56. Texas Roadhouse Inc has a 12 month low of $48.64 and a 12 month high of $73.28.
Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Monday, July 29th. The restaurant operator reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $689.80 million during the quarter, compared to analysts’ expectations of $688.11 million. Texas Roadhouse had a return on equity of 16.30% and a net margin of 5.99%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, equities research analysts forecast that Texas Roadhouse Inc will post 2.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, September 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, September 10th. Texas Roadhouse’s payout ratio is 54.55%.
A number of research firms recently issued reports on TXRH. Raymond James reissued a “hold” rating on shares of Texas Roadhouse in a research report on Friday, June 21st. Maxim Group reissued a “buy” rating and set a $66.00 price objective (up previously from $63.00) on shares of Texas Roadhouse in a research report on Friday, July 26th. BidaskClub raised Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Telsey Advisory Group restated a “market perform” rating and set a $60.00 price target (up from $58.00) on shares of Texas Roadhouse in a research note on Tuesday, July 30th. Finally, Evercore ISI started coverage on Texas Roadhouse in a research note on Tuesday, June 11th. They set an “in-line” rating and a $55.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $62.70.
In related news, Director Gregory N. Moore sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $55.53, for a total value of $1,277,190.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Chris Jacobsen sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the insider now owns 21,197 shares of the company’s stock, valued at $1,271,820. The disclosure for this sale can be found here. 5.89% of the stock is owned by company insiders.
Texas Roadhouse Profile
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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