Edgestream Partners L.P. Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Edgestream Partners L.P. lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 334.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,013 shares of the restaurant operator's stock after acquiring an additional 36,968 shares during the period. Texas Roadhouse makes up 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 26th biggest position. Edgestream Partners L.P. owned about 0.07% of Texas Roadhouse worth $8,663,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its position in Texas Roadhouse by 3.1% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator's stock valued at $313,000 after buying an additional 54 shares during the period. Cornerstone Investment Partners LLC raised its stake in shares of Texas Roadhouse by 2.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock valued at $390,000 after acquiring an additional 56 shares during the last quarter. Lifestyle Asset Management Inc. raised its stake in shares of Texas Roadhouse by 3.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 1,603 shares of the restaurant operator's stock valued at $289,000 after acquiring an additional 60 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Texas Roadhouse by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator's stock worth $345,000 after purchasing an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Texas Roadhouse by 32.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 267 shares of the restaurant operator's stock worth $48,000 after purchasing an additional 65 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded down $1.21 during trading on Tuesday, hitting $177.12. The company had a trading volume of 1,326,912 shares, compared to its average volume of 1,187,189. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The firm has a market capitalization of $11.82 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The stock has a 50 day simple moving average of $178.53 and a 200 day simple moving average of $181.14.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.41 billion. As a group, analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, March 18th. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.61. Texas Roadhouse's dividend payout ratio (DPR) is 42.04%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wedbush lowered their price target on Texas Roadhouse from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 21st. Guggenheim dropped their price target on Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Barclays dropped their target price on shares of Texas Roadhouse from $194.00 to $178.00 and set an "equal weight" rating for the company in a research report on Friday, February 21st. Finally, The Goldman Sachs Group began coverage on shares of Texas Roadhouse in a research report on Thursday, December 5th. They set a "neutral" rating and a $213.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Texas Roadhouse has a consensus rating of "Moderate Buy" and an average price target of $192.73.

Insider Buying and Selling

In other news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the sale, the president now owns 18,414 shares in the company, valued at $3,418,374.96. This trade represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Curtis Warfield sold 3,281 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total transaction of $602,621.27. Following the transaction, the director now owns 6,801 shares of the company's stock, valued at approximately $1,249,139.67. This represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,905 shares of company stock valued at $3,198,367. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Profile

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.