Lord Abbett & CO. LLC Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Lord Abbett & CO. LLC increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 160,253 shares of the restaurant operator's stock after acquiring an additional 8,724 shares during the period. Lord Abbett & CO. LLC owned approximately 0.24% of Texas Roadhouse worth $28,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TXRH. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Texas Roadhouse in the 3rd quarter valued at about $245,000. Franklin Resources Inc. increased its position in shares of Texas Roadhouse by 76.0% in the third quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock worth $157,375,000 after purchasing an additional 385,998 shares during the last quarter. Synovus Financial Corp raised its stake in Texas Roadhouse by 4.8% in the third quarter. Synovus Financial Corp now owns 6,711 shares of the restaurant operator's stock valued at $1,185,000 after purchasing an additional 305 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Texas Roadhouse during the third quarter valued at approximately $1,282,000. Finally, Sanctuary Advisors LLC grew its stake in Texas Roadhouse by 17.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 7,106 shares of the restaurant operator's stock worth $1,385,000 after buying an additional 1,054 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXRH. Evercore ISI raised their price objective on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, October 15th. Citigroup lifted their price target on Texas Roadhouse from $192.00 to $201.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Bank of America increased their price objective on Texas Roadhouse from $206.00 to $234.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Barclays boosted their target price 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. Finally, Loop Capital reduced their price target on shares of Texas Roadhouse from $215.00 to $209.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $190.09.

Texas Roadhouse Price Performance

NASDAQ:TXRH traded up $0.67 during trading hours on Monday, hitting $187.53. The company had a trading volume of 715,124 shares, compared to its average volume of 761,332. Texas Roadhouse, Inc. has a 52 week low of $115.48 and a 52 week high of $206.04. The company has a market capitalization of $12.51 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.98. The stock has a 50-day moving average price of $190.68 and a 200 day moving average price of $176.98.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.95 EPS. The company's revenue for the quarter was up 13.5% on a year-over-year basis. Analysts anticipate that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.61 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 annualized dividend and a dividend yield of 1.30%. Texas Roadhouse's dividend payout ratio is presently 41.92%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 1,500 shares of the 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 sale, the chief technology officer now owns 16,342 shares in the company, valued at approximately $3,305,332.92. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is 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.