Summit Global Investments Acquires Shares of 5,343 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Summit Global Investments purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,343 shares of the restaurant operator's stock, valued at approximately $944,000.

Several other institutional investors also recently bought and sold shares of TXRH. PSI Advisors LLC increased its position in shares of Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator's stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Angeles Wealth Management LLC raised its stake in Texas Roadhouse by 5.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator's stock worth $259,000 after buying an additional 75 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Texas Roadhouse by 12.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator's stock valued at $128,000 after purchasing an additional 85 shares during the period. Gries Financial LLC increased its position in shares of Texas Roadhouse by 6.5% during the second quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator's stock worth $322,000 after acquiring an additional 114 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in Texas Roadhouse by 4.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator's stock valued at $414,000 after buying an additional 122 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TXRH has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Texas Roadhouse from $192.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Barclays increased 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 report on Friday, October 25th. Wedbush lifted their price objective on shares of Texas Roadhouse from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Guggenheim upped their target price on Texas Roadhouse from $190.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, UBS Group increased their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $189.00.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded up $1.18 during midday trading on Friday, reaching $197.77. 504,653 shares of the company's stock were exchanged, compared to its average volume of 813,016. Texas Roadhouse, Inc. has a 52-week low of $101.73 and a 52-week high of $201.24. The stock has a market capitalization of $13.19 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.98. The business's fifty day moving average price is $177.12 and its two-hundred day moving average price is $171.34.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly 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). The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 EPS. Analysts predict that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm 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. This represents a $2.44 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse's payout ratio is presently 41.92%.

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.