Ascent Group LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Ascent Group LLC purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, HoldingsChannel reports. The fund purchased 7,028 shares of the restaurant operator’s stock, valued at approximately $1,241,000.

Several other hedge funds also recently added to or reduced their stakes in TXRH. Paloma Partners Management Co acquired a new position in shares of Texas Roadhouse in the 3rd quarter valued at about $390,000. Point72 Asia Singapore Pte. Ltd. raised its position in Texas Roadhouse by 1,723.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,222 shares of the restaurant operator’s stock valued at $216,000 after acquiring an additional 1,155 shares in the last quarter. Point72 Hong Kong Ltd lifted its holdings in Texas Roadhouse by 85.1% in the third quarter. Point72 Hong Kong Ltd now owns 16,469 shares of the restaurant operator’s stock valued at $2,908,000 after acquiring an additional 7,573 shares during the period. Erste Asset Management GmbH purchased a new stake in Texas Roadhouse in the 3rd quarter worth approximately $66,609,000. Finally, True Wealth Design LLC acquired a new stake in shares of Texas Roadhouse during the 3rd quarter worth approximately $30,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $196.10 on Wednesday. The stock’s 50 day simple moving average is $188.06 and its 200-day simple moving average is $175.57. The stock has a market cap of $13.08 billion, a P/E ratio of 33.69, a P/E/G ratio of 1.69 and a beta of 0.98. Texas Roadhouse, Inc. has a 1-year low of $112.87 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data 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). Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend yield of 1.24%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio is currently 41.92%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TXRH. Stifel Nicolaus increased their price target on shares of Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Robert W. Baird increased their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. UBS Group lifted their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Guggenheim increased their price target on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Citigroup boosted their price objective on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Twelve analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $189.00.

Insider Buying and Selling

In other news, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief technology officer now owns 16,342 shares in the company, valued at $3,305,332.92. This trade represents a 8.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 3,532 shares in the company, valued at $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Company 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.