Bridgewater Associates LP Decreases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bridgewater Associates LP lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,828 shares of the restaurant operator’s stock after selling 24,733 shares during the quarter. Bridgewater Associates LP’s holdings in Texas Roadhouse were worth $14,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Marshall Wace LLP increased its stake in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after buying an additional 430,814 shares during the period. FMR LLC raised its holdings in shares of Texas Roadhouse by 81.6% in the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after purchasing an additional 403,720 shares in the last quarter. Fiera Capital Corp purchased a new stake in shares of Texas Roadhouse during the 3rd quarter worth $41,670,000. Bank of Montreal Can increased its holdings in Texas Roadhouse by 2,216.1% in the third quarter. Bank of Montreal Can now owns 176,280 shares of the restaurant operator’s stock valued at $30,831,000 after buying an additional 168,669 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Texas Roadhouse by 22.3% during the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after buying an additional 165,738 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Bank of America increased their target price on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays boosted their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Evercore ISI lifted their target price on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price target on shares of Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus target price of $189.00.

Insider Activity

In other news, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the completion of the sale, the director now directly owns 3,532 shares of the company’s stock, valued at $691,071.12. The trade was a 14.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Down 0.7 %

Texas Roadhouse stock opened at $203.36 on Thursday. The stock has a market cap of $13.57 billion, a PE ratio of 34.94, a P/E/G ratio of 1.72 and a beta of 0.98. The stock has a 50-day moving average price of $185.86 and a 200 day moving average price of $174.61. Texas Roadhouse, Inc. has a 52 week low of $110.88 and a 52 week high of $205.85.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly 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). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. On average, equities analysts predict that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 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.