Northwestern Mutual Wealth Management Co. Grows Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Northwestern Mutual Wealth Management Co. increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 41.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 684 shares of the restaurant operator’s stock after purchasing an additional 199 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Texas Roadhouse were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Creative Planning raised its holdings in shares of Texas Roadhouse by 12.8% during the second quarter. Creative Planning now owns 9,562 shares of the restaurant operator’s stock valued at $1,642,000 after purchasing an additional 1,083 shares during the last quarter. Algert Global LLC lifted its stake in shares of Texas Roadhouse by 268.9% in the 2nd quarter. Algert Global LLC now owns 50,914 shares of the restaurant operator’s stock worth $8,742,000 after purchasing an additional 37,114 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Texas Roadhouse in the second quarter worth approximately $5,745,000. Millennium Management LLC grew its position in Texas Roadhouse by 25.0% during the second quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after buying an additional 116,721 shares during the period. Finally, Maverick Capital Ltd. bought a new stake in Texas Roadhouse during the second quarter valued at approximately $2,066,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. BTIG Research upped their price target on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their price objective on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Truist Financial boosted their price objective on Texas Roadhouse from $196.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Stephens lifted their price target on shares of Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $176.90.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $175.70 on Friday. The company’s fifty day moving average is $169.32 and its 200 day moving average is $166.13. Texas Roadhouse, Inc. has a fifty-two week low of $91.06 and a fifty-two week high of $180.69. The stock has a market capitalization of $11.74 billion, a PE ratio of 35.57, a P/E/G ratio of 1.59 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 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. Texas Roadhouse’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.34 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

Texas Roadhouse 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.