Summit Global Investments Buys Shares of 5,343 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Summit Global Investments purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,343 shares of the restaurant operator’s stock, valued at approximately $944,000.

Several other large investors have also made changes to their positions in the company. Marshall Wace LLP raised its position in Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Texas Roadhouse by 22.3% during the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after buying an additional 165,738 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in Texas Roadhouse in the second quarter valued at about $21,462,000. Millennium Management LLC grew its position in Texas Roadhouse by 25.0% in the second quarter. Millennium Management LLC now owns 583,009 shares of the restaurant operator’s stock valued at $100,108,000 after acquiring an additional 116,721 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in Texas Roadhouse by 3,259.4% during the first quarter. Bahl & Gaynor Inc. now owns 92,350 shares of the restaurant operator’s stock worth $14,265,000 after acquiring an additional 89,601 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. BTIG Research upped their target price on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Citigroup lifted their price target on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Guggenheim lifted their target price on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $189.00.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $197.77 on Friday. The firm has a market cap of $13.19 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. Texas Roadhouse, Inc. has a 52-week low of $101.73 and a 52-week high of $201.24. The business’s 50 day moving average price is $177.12 and its two-hundred day moving average price is $171.34.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. Research analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.61 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.23%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.92%.

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.