Picton Mahoney Asset Management Acquires New Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Picton Mahoney Asset Management acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 400 shares of the restaurant operator’s stock, valued at approximately $68,000.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Texas Roadhouse during the fourth quarter valued at about $78,544,000. Balyasny Asset Management L.P. increased its holdings in Texas Roadhouse by 4,150.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after acquiring an additional 441,069 shares in the last quarter. Armistice Capital LLC bought a new stake in Texas Roadhouse during the 4th quarter worth approximately $28,724,000. Bank of Nova Scotia lifted its holdings in Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock valued at $27,200,000 after purchasing an additional 218,287 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of Texas Roadhouse by 2,985.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock worth $25,481,000 after purchasing an additional 201,714 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Up 0.1 %

Shares of NASDAQ:TXRH opened at $168.75 on Monday. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $177.72. The stock has a market capitalization of $11.27 billion, a P/E ratio of 34.16, a PEG ratio of 1.53 and a beta of 1.01. The firm has a fifty day simple moving average of $169.23 and a two-hundred day simple moving average of $162.13.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company posted $1.22 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, analysts expect that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TXRH shares. Wells Fargo & Company lifted their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Wedbush boosted their price objective on Texas Roadhouse from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their target price on Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. BTIG Research boosted their price target on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus upped their price target on Texas Roadhouse from $155.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, May 6th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and a consensus price target of $171.85.

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.