Canada Pension Plan Investment Board Takes $52,000 Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Canada Pension Plan Investment Board purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300 shares of the restaurant operator’s stock, valued at approximately $52,000.

A number of other large investors have also made changes to their positions in TXRH. Benjamin F. Edwards & Company Inc. grew its position in Texas Roadhouse by 12.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock valued at $128,000 after purchasing an additional 85 shares in the last quarter. Gries Financial LLC grew its position in Texas Roadhouse by 6.5% during the second quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 114 shares in the last quarter. Advisors Asset Management Inc. grew its position in Texas Roadhouse by 4.8% during the first quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock valued at $414,000 after purchasing an additional 122 shares in the last quarter. Signaturefd LLC grew its position in Texas Roadhouse by 8.0% during the second quarter. Signaturefd LLC now owns 1,883 shares of the restaurant operator’s stock valued at $323,000 after purchasing an additional 140 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Roadhouse during the second quarter valued at approximately $25,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Guggenheim boosted their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $190.00 target price on shares of Texas Roadhouse in a research report on Tuesday, September 24th. Royal Bank of Canada boosted their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a research report on Friday, June 7th. Truist Financial upped their price objective on shares of Texas Roadhouse from $185.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Bank of America upped their price objective on shares of Texas Roadhouse from $189.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $175.70.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $174.90 on Monday. The company has a 50-day moving average of $168.36 and a 200-day moving average of $164.76. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.59 and a beta of 0.99. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $180.69.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results 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. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $1.22 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.32 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio is currently 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.