Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Sold by MGB Wealth Management LLC

MGB Wealth Management LLC cut its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,366 shares of the restaurant operator’s stock after selling 1,810 shares during the period. MGB Wealth Management LLC’s holdings in Texas Roadhouse were worth $1,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Texas Roadhouse by 128.9% in the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after purchasing an additional 430,814 shares in the last quarter. Fiera Capital Corp acquired a new stake in Texas Roadhouse during the third quarter valued at approximately $41,670,000. AQR Capital Management LLC raised its stake in Texas Roadhouse by 22.3% during the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after buying an additional 165,738 shares in the last quarter. Jennison Associates LLC lifted its holdings in Texas Roadhouse by 29.1% during the 3rd quarter. Jennison Associates LLC now owns 622,561 shares of the restaurant operator’s stock worth $109,944,000 after buying an additional 140,439 shares during the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Texas Roadhouse in the 2nd quarter worth approximately $21,462,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the 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 sale, the director now directly owns 3,532 shares of the company’s stock, valued at $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was 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 directly owns 16,342 shares of the company’s stock, 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. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXRH. Royal Bank of Canada upped their price target on Texas Roadhouse from $175.00 to $185.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Morgan Stanley increased their target price on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company a “market perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Finally, Bank of America lifted their target price on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $194.90 on Friday. The firm’s 50 day moving average price is $183.50 and its two-hundred day moving average price is $173.78. Texas Roadhouse, Inc. has a twelve month low of $110.88 and a twelve month high of $203.32. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.64 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts forecast that Texas Roadhouse, Inc. will post 6.39 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

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.