Putnam Investments LLC lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) by 101.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 101,806 shares of the restaurant operator’s stock after acquiring an additional 51,257 shares during the period. Putnam Investments LLC owned approximately 0.15% of Texas Roadhouse worth $11,001,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. TFC Financial Management Inc. lifted its holdings in shares of Texas Roadhouse by 480.0% during the 1st quarter. TFC Financial Management Inc. now owns 290 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 240 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Texas Roadhouse in the 2nd quarter worth $32,000. Coppell Advisory Solutions Corp. purchased a new position in Texas Roadhouse in the 4th quarter worth $44,000. Belpointe Asset Management LLC raised its position in Texas Roadhouse by 71.9% in the 1st quarter. Belpointe Asset Management LLC now owns 459 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 192 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its position in Texas Roadhouse by 310.5% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 546 shares of the restaurant operator’s stock worth $50,000 after purchasing an additional 413 shares during the period. 97.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on TXRH shares. Wedbush reaffirmed an “outperform” rating and set a $123.00 target price on shares of Texas Roadhouse in a research note on Friday, July 28th. Wells Fargo & Company began coverage on shares of Texas Roadhouse in a report on Monday, June 26th. They set an “equal weight” rating and a $113.00 target price for the company. Piper Sandler began coverage on shares of Texas Roadhouse in a report on Monday, July 17th. They set an “overweight” rating and a $126.00 target price for the company. Guggenheim reaffirmed a “buy” rating and set a $130.00 target price on shares of Texas Roadhouse in a report on Wednesday, August 23rd. Finally, 888 reaffirmed a “reiterates” rating on shares of Texas Roadhouse in a report on Thursday, June 29th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $118.45.
Insider Buying and Selling at Texas Roadhouse
In other Texas Roadhouse news, Director Gregory N. Moore sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $108.88, for a total value of $217,760.00. Following the transaction, the director now directly owns 49,050 shares in the company, valued at $5,340,564. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.
Texas Roadhouse Trading Down 0.7 %
Shares of TXRH stock opened at $101.23 on Friday. The company’s 50-day moving average price is $108.00 and its 200-day moving average price is $108.49. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.25 and a beta of 0.96. Texas Roadhouse, Inc. has a twelve month low of $83.29 and a twelve month high of $118.16.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last released its earnings results on Thursday, July 27th. The restaurant operator reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.01. Texas Roadhouse had a net margin of 6.69% and a return on equity of 27.77%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 4.65 EPS for the current year.
Texas Roadhouse Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 5th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.17%. Texas Roadhouse’s payout ratio is 50.93%.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company 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.
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