FCG Investment Co Purchases 950 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

FCG Investment Co raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 21.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,438 shares of the restaurant operator’s stock after buying an additional 950 shares during the quarter. FCG Investment Co’s holdings in Texas Roadhouse were worth $840,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Legacy Wealth Asset Management LLC acquired a new stake in shares of Texas Roadhouse in the 1st quarter worth about $216,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Texas Roadhouse by 32.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,338 shares of the restaurant operator’s stock valued at $1,906,000 after purchasing an additional 3,026 shares during the last quarter. State of Michigan Retirement System increased its holdings in Texas Roadhouse by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 16,378 shares of the restaurant operator’s stock worth $2,530,000 after purchasing an additional 400 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC purchased a new stake in shares of Texas Roadhouse in the first quarter worth approximately $274,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Texas Roadhouse by 54.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 84,886 shares of the restaurant operator’s stock worth $13,112,000 after purchasing an additional 29,833 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TXRH. Wells Fargo & Company upped their target price on shares of Texas Roadhouse from $140.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Stephens lifted their target price on shares of Texas Roadhouse from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Citigroup upped their target price on Texas Roadhouse from $178.00 to $183.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Morgan Stanley increased their price target on Texas Roadhouse from $145.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets boosted their price objective on Texas Roadhouse from $130.00 to $145.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Thirteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has an average rating of “Hold” and an average price target of $157.86.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock traded down $0.97 during trading hours on Thursday, reaching $166.64. The company had a trading volume of 355,769 shares, compared to its average volume of 814,033. The firm has a market cap of $11.13 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 1.63 and a beta of 1.01. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $175.72. The business has a fifty day simple moving average of $167.86 and a 200 day simple moving average of $148.43.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 2nd. The restaurant operator reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Texas Roadhouse had a return on equity of 28.85% and a net margin of 6.94%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $1.28 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, research analysts forecast that Texas Roadhouse, Inc. will post 6.02 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Wednesday, June 12th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.44 annualized dividend and a yield of 1.46%. Texas Roadhouse’s dividend payout ratio is currently 49.39%.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the transaction, the chief executive officer now directly owns 77,847 shares in the company, valued at $13,366,329.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the completion of the sale, the chief executive officer now directly owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 1,025 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total value of $169,965.50. Following the completion of the transaction, the director now directly owns 12,372 shares in the company, valued at approximately $2,051,525.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,025 shares of company stock valued at $3,251,266. Company insiders own 0.50% of the company’s stock.

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.