abrdn plc Purchases 53,549 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

abrdn plc raised its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 33.8% in the 3rd quarter, Holdings Channel reports. The firm owned 212,039 shares of the restaurant operator’s stock after acquiring an additional 53,549 shares during the period. abrdn plc’s holdings in Texas Roadhouse were worth $37,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXRH. PSI Advisors LLC increased its stake in shares of Texas Roadhouse by 70.8% in the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Texas Roadhouse by 12.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 743 shares of the restaurant operator’s stock valued at $128,000 after buying an additional 85 shares in the last quarter. Gries Financial LLC grew its position in Texas Roadhouse by 6.5% in the second quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator’s stock valued at $322,000 after acquiring an additional 114 shares during the last quarter. Advisors Asset Management Inc. raised its stake 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 worth $414,000 after acquiring an additional 122 shares in the last quarter. Finally, Trust Point Inc. raised its stake in Texas Roadhouse by 6.5% during the third quarter. Trust Point Inc. now owns 2,041 shares of the restaurant operator’s stock worth $360,000 after acquiring an additional 124 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TXRH has been the topic of a number of research analyst reports. Bank of America raised their price target on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. BTIG Research increased their price target on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stephens raised their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Finally, Barclays upped their target price on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Hold” and an average price target of $189.00.

Texas Roadhouse Stock Up 0.4 %

TXRH opened at $193.95 on Thursday. Texas Roadhouse, Inc. has a twelve month low of $98.18 and a twelve month high of $196.29. The company has a fifty day moving average of $173.82 and a 200-day moving average of $169.35. The stock has a market cap of $12.93 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 earnings per share. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.38 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were issued a $0.61 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.26%. Texas Roadhouse’s payout ratio is currently 41.92%.

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.