Westwood Holdings Group Inc. Decreases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Westwood Holdings Group Inc. reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 96.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,981 shares of the restaurant operator’s stock after selling 60,469 shares during the period. Westwood Holdings Group Inc.’s holdings in Texas Roadhouse were worth $340,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in Texas Roadhouse in the 4th quarter worth approximately $736,000. Ontario Teachers Pension Plan Board bought a new position in shares of Texas Roadhouse during the 1st quarter valued at approximately $2,338,000. Bank of Nova Scotia raised its stake in shares of Texas Roadhouse by 5,135.0% in the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock valued at $27,200,000 after acquiring an additional 218,287 shares during the period. Los Angeles Capital Management LLC raised its position in Texas Roadhouse by 158.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock worth $3,477,000 after purchasing an additional 13,795 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Texas Roadhouse during the 1st quarter worth approximately $4,522,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $169.71 on Monday. The firm’s 50-day moving average is $167.84 and its two-hundred day moving average is $163.92. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $177.72. The stock has a market capitalization of $11.34 billion, a P/E ratio of 34.35, a PEG ratio of 1.48 and a beta of 0.99.

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

Texas Roadhouse Announces Dividend

The company also recently announced 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 1.44%. Texas Roadhouse’s payout ratio is 49.39%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TXRH shares. Royal Bank of Canada boosted their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the company a “sector perform” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. BTIG Research boosted their target price on shares of Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company boosted their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.