Seven Eight Capital LP Decreases Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Seven Eight Capital LP decreased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 80.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,334 shares of the restaurant operator’s stock after selling 5,415 shares during the quarter. Seven Eight Capital LP’s holdings in Texas Roadhouse were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bridgefront Capital LLC acquired a new position in shares of Texas Roadhouse during the 4th quarter valued at about $736,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Texas Roadhouse during the first quarter valued at about $2,338,000. Bank of Nova Scotia raised its stake in shares of Texas Roadhouse by 5,135.0% in the 4th 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 boosted its position in shares of Texas Roadhouse by 158.3% during 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. acquired a new position in Texas Roadhouse during the first quarter worth $4,522,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Analyst Upgrades and Downgrades

TXRH has been the subject of several research reports. BMO Capital Markets lifted their target price on Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Morgan Stanley lifted their target price on Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. BTIG Research upped their price target on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Wedbush raised their price target on Texas Roadhouse from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $171.85.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $175.28 on Tuesday. The business has a 50 day moving average price of $167.95 and a 200 day moving average price of $164.10. The company has a market capitalization of $11.71 billion, a P/E ratio of 35.48, a P/E/G ratio of 1.48 and a beta of 0.99. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $177.72.

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

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.39%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

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.