NewEdge Advisors LLC Purchases 179 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

NewEdge Advisors LLC increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 9.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,164 shares of the restaurant operator’s stock after acquiring an additional 179 shares during the period. NewEdge Advisors LLC’s holdings in Texas Roadhouse were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Texas Roadhouse in the 4th quarter valued at about $155,239,000. FMR LLC raised its position in shares of Texas Roadhouse by 44.8% during the fourth quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock worth $234,737,000 after purchasing an additional 402,465 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Texas Roadhouse by 76.0% in the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator’s stock worth $157,375,000 after purchasing an additional 385,998 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Texas Roadhouse in the 4th quarter valued at $55,177,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Texas Roadhouse by 29.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 819,522 shares of the restaurant operator’s stock valued at $147,866,000 after purchasing an additional 184,250 shares during the period. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Down 1.2 %

Shares of TXRH opened at $164.67 on Wednesday. The business’s 50-day moving average price is $169.21 and its 200-day moving average price is $179.92. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The stock has a market cap of $10.94 billion, a PE ratio of 25.45, a P/E/G ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.65%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio is 42.04%.

Insider Buying and Selling

In related news, President Regina A. Tobin sold 3,154 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total value of $585,508.56. Following the transaction, the president now directly owns 18,414 shares in the company, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher C. Colson sold 580 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $181.94, for a total transaction of $105,525.20. Following the completion of the transaction, the insider now owns 12,000 shares in the company, valued at approximately $2,183,280. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,535 shares of company stock worth $2,952,507. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays lifted their price target on shares of Texas Roadhouse from $178.00 to $179.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on shares of Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Stephens reduced their price target on shares of Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Morgan Stanley raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $205.00 to $213.00 in a research report on Tuesday, January 21st. Finally, Gordon Haskett downgraded shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 price target for the company. in a research report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.29.

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.