Optas LLC Invests $1.22 Million in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Optas LLC purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,916 shares of the restaurant operator's stock, valued at approximately $1,221,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Marshall Wace LLP increased its stake in shares of Texas Roadhouse by 128.9% during 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 during the last quarter. AQR Capital Management LLC increased its stake in shares of Texas Roadhouse by 22.3% during the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator's stock worth $156,230,000 after purchasing an additional 165,738 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth about $21,462,000. Millennium Management LLC increased its stake in shares of Texas Roadhouse by 25.0% during the 2nd quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator's stock worth $100,108,000 after purchasing an additional 116,721 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of Texas Roadhouse by 3,259.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 92,350 shares of the restaurant operator's stock worth $14,265,000 after purchasing an additional 89,601 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TXRH shares. Barclays boosted their price objective on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. BTIG Research lifted their target price on shares of Texas Roadhouse from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Texas Roadhouse from $190.00 to $193.00 and gave the stock a "buy" rating in a report on Tuesday, July 16th. Citigroup lifted their target price on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a "market perform" rating in a report on Friday, October 25th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $189.00.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded down $3.60 on Friday, reaching $187.52. 1,150,141 shares of the stock were exchanged, compared to its average volume of 726,956. The firm's 50 day moving average is $174.66 and its 200-day moving average is $170.05. Texas Roadhouse, Inc. has a one year low of $101.73 and a one year high of $196.29. The firm has a market cap of $12.50 billion, a PE ratio of 32.22, a P/E/G ratio of 1.63 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. Texas Roadhouse's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 6.37 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse's dividend payout ratio is 41.92%.

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.