Bridgewater Associates LP Decreases Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bridgewater Associates LP lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 22.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,828 shares of the restaurant operator's stock after selling 24,733 shares during the quarter. Bridgewater Associates LP owned approximately 0.13% of Texas Roadhouse worth $14,804,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP grew its position in Texas Roadhouse by 128.9% in the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator's stock worth $131,375,000 after purchasing an additional 430,814 shares in the last quarter. FMR LLC grew its holdings in shares of Texas Roadhouse by 81.6% in the third quarter. FMR LLC now owns 898,522 shares of the restaurant operator's stock valued at $158,679,000 after acquiring an additional 403,720 shares in the last quarter. Fiera Capital Corp bought a new position in shares of Texas Roadhouse in the third quarter valued at approximately $41,670,000. Bank of Montreal Can increased its position in shares of Texas Roadhouse by 2,216.1% during the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator's stock valued at $30,831,000 after acquiring an additional 168,669 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Texas Roadhouse by 22.3% during the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator's stock worth $156,230,000 after acquiring an additional 165,738 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Down 0.7 %

NASDAQ:TXRH traded down $1.35 during trading hours on Thursday, hitting $203.36. 695,275 shares of the company's stock traded hands, compared to its average volume of 768,816. The firm has a market cap of $13.57 billion, a P/E ratio of 34.94, a P/E/G ratio of 1.72 and a beta of 0.98. The business's fifty day simple moving average is $186.48 and its two-hundred day simple moving average is $174.81. Texas Roadhouse, Inc. has a 52 week low of $110.88 and a 52 week high of $205.85.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business's revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse's dividend payout ratio (DPR) is currently 41.92%.

Analyst Ratings Changes

A number of research analysts have issued reports on TXRH shares. Loop Capital reduced their price objective on Texas Roadhouse from $215.00 to $209.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Morgan Stanley increased their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Bank of America lifted their price objective on shares of Texas Roadhouse from $206.00 to $234.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on shares of Texas Roadhouse from $180.00 to $195.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Finally, Evercore ISI lifted their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, October 15th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $189.00.

Insider Transactions at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 1,500 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares of the company's stock, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps sold 610 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares of the company's stock, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

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.