Glenmede Trust Co. NA Raises Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Glenmede Trust Co. NA lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,048 shares of the restaurant operator’s stock after buying an additional 375 shares during the quarter. Glenmede Trust Co. NA’s holdings in Texas Roadhouse were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Texas Roadhouse in the 3rd quarter valued at $17,853,000. Victory Capital Management Inc. increased its holdings in shares of Texas Roadhouse by 194.9% in the 3rd quarter. Victory Capital Management Inc. now owns 67,733 shares of the restaurant operator’s stock valued at $11,962,000 after acquiring an additional 44,768 shares during the period. SG Americas Securities LLC increased its holdings in shares of Texas Roadhouse by 200.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,067 shares of the restaurant operator’s stock valued at $3,274,000 after acquiring an additional 12,725 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Texas Roadhouse by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 483,045 shares of the restaurant operator’s stock valued at $85,306,000 after acquiring an additional 4,391 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Texas Roadhouse by 1,042.2% in the 3rd quarter. Assetmark Inc. now owns 9,709 shares of the restaurant operator’s stock valued at $1,715,000 after acquiring an additional 8,859 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

TXRH has been the topic of a number of recent research reports. Truist Financial lifted their target price on shares of Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. Wedbush lifted their target price on shares of Texas Roadhouse from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Citigroup boosted their price objective on shares of Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Stifel Nicolaus boosted their price objective on shares of Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Loop Capital dropped their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Stock Up 1.9 %

Texas Roadhouse stock opened at $199.86 on Thursday. Texas Roadhouse, Inc. has a 52 week low of $112.87 and a 52 week high of $206.04. The firm’s 50-day simple moving average is $188.51 and its 200 day simple moving average is $175.74. The firm has a market capitalization of $13.33 billion, a PE ratio of 34.34, a P/E/G ratio of 1.69 and a beta of 0.98.

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

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 annualized dividend and a dividend yield of 1.22%. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the transaction, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. This represents a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the transaction, the chief technology officer now owns 16,342 shares in the company, valued at approximately $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.