Congress Asset Management Co. MA Decreases Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Congress Asset Management Co. MA trimmed its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,150 shares of the restaurant operator’s stock after selling 255 shares during the quarter. Congress Asset Management Co. MA’s holdings in Texas Roadhouse were worth $1,413,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Fulton Bank N.A. raised its position in shares of Texas Roadhouse by 3.9% during the 1st quarter. Fulton Bank N.A. now owns 7,225 shares of the restaurant operator’s stock valued at $1,116,000 after buying an additional 272 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Texas Roadhouse during the 1st quarter valued at about $32,000. Mather Group LLC. purchased a new stake in shares of Texas Roadhouse during the 1st quarter valued at about $128,000. Los Angeles Capital Management LLC raised its position in shares of Texas Roadhouse by 158.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock valued at $3,477,000 after buying an additional 13,795 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Texas Roadhouse during the 4th quarter valued at about $356,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TXRH shares. Robert W. Baird increased their price objective on shares of Texas Roadhouse from $178.00 to $182.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Royal Bank of Canada increased their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. increased their price objective on shares of Texas Roadhouse from $145.00 to $184.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 28th. BMO Capital Markets increased their price objective on shares of Texas Roadhouse from $130.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Finally, BTIG Research increased their price objective on shares of Texas Roadhouse from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and a consensus target price of $157.77.

Texas Roadhouse Stock Up 0.6 %

Shares of TXRH stock opened at $170.41 on Friday. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 1.65 and a beta of 1.00. The company’s 50 day moving average is $164.90 and its 200 day moving average is $145.32. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $174.05.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company posted $1.28 earnings per share. Texas Roadhouse’s revenue was up 12.5% compared to the same quarter last year. Analysts anticipate that Texas Roadhouse, Inc. will post 6.02 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Wednesday, June 12th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, June 12th. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total value of $2,575,500.00. Following the transaction, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at $13,366,329.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Curtis Warfield sold 1,025 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the sale, the director now directly owns 12,372 shares in the company, valued at $2,051,525.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,025 shares of company stock valued at $3,251,266. 0.50% of the stock is currently 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.