Meridian Wealth Management LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Meridian Wealth Management LLC purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,711 shares of the restaurant operator’s stock, valued at approximately $302,000.

Several other institutional investors also recently made changes to their positions in TXRH. LRI Investments LLC acquired a new position in Texas Roadhouse in the first quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at about $25,000. Hollencrest Capital Management acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at about $25,000. McClarren Financial Advisors Inc. grew its holdings in shares of Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 167 shares during the period. Finally, PSI Advisors LLC increased its position in Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 75 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Texas Roadhouse from $175.00 to $185.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Wedbush increased their price target on Texas Roadhouse from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Morgan Stanley raised their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Loop Capital decreased their target price on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and a consensus price target of $189.00.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $202.12 on Tuesday. The stock has a market capitalization of $13.48 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 1.66 and a beta of 0.98. Texas Roadhouse, Inc. has a one year low of $110.88 and a one year high of $203.32. The company’s 50-day simple moving average is $184.27 and its 200-day simple moving average is $174.14.

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

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is presently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of Texas Roadhouse stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the completion of the transaction, the director now directly owns 3,532 shares in the company, valued at $691,071.12. The trade was a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total value of $303,390.00. Following the sale, the chief technology officer now owns 16,342 shares in the company, valued at $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.