Jennison Associates LLC Boosts Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Jennison Associates LLC raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 29.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 622,561 shares of the restaurant operator's stock after purchasing an additional 140,439 shares during the quarter. Jennison Associates LLC owned approximately 0.93% of Texas Roadhouse worth $109,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TXRH. Vanguard Group Inc. increased its stake in Texas Roadhouse by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator's stock valued at $1,000,356,000 after acquiring an additional 53,419 shares during the last quarter. SG Americas Securities LLC grew its position in Texas Roadhouse by 200.6% during the 2nd quarter. SG Americas Securities LLC now owns 19,067 shares of the restaurant operator's stock worth $3,274,000 after acquiring an additional 12,725 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Texas Roadhouse by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 483,045 shares of the restaurant operator's stock worth $85,306,000 after purchasing an additional 4,391 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Texas Roadhouse by 320.0% in the second quarter. Harbor Capital Advisors Inc. now owns 11,940 shares of the restaurant operator's stock valued at $2,050,000 after purchasing an additional 9,097 shares during the last quarter. Finally, Assetmark Inc. raised its position in Texas Roadhouse by 1,042.2% in the third quarter. Assetmark Inc. now owns 9,709 shares of the restaurant operator's stock valued at $1,715,000 after purchasing an additional 8,859 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Donna E. Epps sold 610 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now directly owns 3,532 shares in the company, valued at $691,071.12. The trade was a 14.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The shares were 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 $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Texas Roadhouse Trading Down 0.1 %

Shares of TXRH traded down $0.23 during midday trading on Thursday, reaching $193.18. The stock had a trading volume of 386,536 shares, compared to its average volume of 768,526. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 1.65 and a beta of 0.98. Texas Roadhouse, Inc. has a 12-month low of $110.69 and a 12-month high of $203.32. The company's 50-day moving average is $182.25 and its 200 day moving average is $173.45.

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

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.26%. Texas Roadhouse's dividend payout ratio is currently 41.92%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Guggenheim boosted their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Barclays lifted their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Robert W. Baird boosted their price target on Texas Roadhouse from $190.00 to $205.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, July 26th. Finally, UBS Group boosted their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a report on Friday, October 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $189.00.

Texas Roadhouse Company 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.