State Street Corp Buys 38,723 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

State Street Corp increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982,848 shares of the restaurant operator's stock after purchasing an additional 38,723 shares during the quarter. State Street Corp owned 2.97% of Texas Roadhouse worth $350,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stifel Financial Corp lifted its holdings in shares of Texas Roadhouse by 31.5% during the third quarter. Stifel Financial Corp now owns 27,857 shares of the restaurant operator's stock valued at $4,919,000 after purchasing an additional 6,673 shares in the last quarter. SYM FINANCIAL Corp bought a new position in shares of Texas Roadhouse during the third quarter valued at $210,000. Quantinno Capital Management LP lifted its holdings in shares of Texas Roadhouse by 20.8% during the third quarter. Quantinno Capital Management LP now owns 40,695 shares of the restaurant operator's stock valued at $7,187,000 after purchasing an additional 7,017 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Texas Roadhouse during the third quarter valued at $214,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Texas Roadhouse by 1.7% during the third quarter. HighTower Advisors LLC now owns 8,244 shares of the restaurant operator's stock valued at $1,468,000 after purchasing an additional 135 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group began coverage on Texas Roadhouse in a report on Thursday, December 5th. They issued a "neutral" rating and a $213.00 target price on the stock. Bank of America boosted their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Wedbush raised their price objective on Texas Roadhouse from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Evercore ISI raised their price objective on Texas Roadhouse from $195.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 15th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $190.09.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock traded up $0.78 on Tuesday, reaching $193.20. The company had a trading volume of 597,051 shares, compared to its average volume of 765,886. The firm's 50-day moving average price is $189.62 and its two-hundred day moving average price is $176.38. Texas Roadhouse, Inc. has a 1 year low of $113.81 and a 1 year high of $206.04. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 1.67 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted 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). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Texas Roadhouse's revenue was up 13.5% compared to the same quarter last year. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

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

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 1,500 shares of Texas Roadhouse stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps sold 610 shares of Texas Roadhouse stock in a transaction 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 sale, the director now directly owns 3,532 shares of the company's stock, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.