Envestnet Asset Management Inc. Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Envestnet Asset Management Inc. increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.6% in the second quarter, Holdings Channel.com reports. The fund owned 173,196 shares of the restaurant operator’s stock after purchasing an additional 17,949 shares during the period. Envestnet Asset Management Inc.’s holdings in Texas Roadhouse were worth $29,740,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TXRH. LRI Investments LLC bought a new stake in Texas Roadhouse in the 1st quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Roadhouse in the 2nd quarter worth approximately $25,000. McClarren Financial Advisors Inc. grew its position in Texas Roadhouse by 4,175.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 167 shares during the period. Rise Advisors LLC bought a new stake in Texas Roadhouse in the 1st quarter worth approximately $32,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Texas Roadhouse by 454.5% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 244 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 200 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Trading Down 1.6 %

Shares of NASDAQ:TXRH opened at $169.71 on Friday. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $177.72. The company has a 50-day moving average price of $167.84 and a 200 day moving average price of $163.83. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.48 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, beating 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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 6.32 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, September 4th. Texas Roadhouse’s payout ratio is 49.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TXRH shares. Evercore ISI lifted their target price on shares of Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, BTIG Research boosted their price objective on shares of Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $171.85.

Texas Roadhouse Company 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.