Longboard Asset Management LP Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Longboard Asset Management LP purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,361 shares of the restaurant operator’s stock, valued at approximately $246,000. Texas Roadhouse accounts for about 0.7% of Longboard Asset Management LP’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds have also made changes to their positions in TXRH. Creative Planning lifted its position in Texas Roadhouse by 12.8% in the 2nd quarter. Creative Planning now owns 9,562 shares of the restaurant operator’s stock valued at $1,642,000 after purchasing an additional 1,083 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Texas Roadhouse by 41.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 684 shares of the restaurant operator’s stock valued at $117,000 after purchasing an additional 199 shares during the period. Cetera Investment Advisers raised its holdings in shares of Texas Roadhouse by 125.1% during the second quarter. Cetera Investment Advisers now owns 6,392 shares of the restaurant operator’s stock valued at $1,098,000 after buying an additional 3,553 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Texas Roadhouse during the second quarter worth approximately $953,000. Finally, GAMMA Investing LLC grew its holdings in Texas Roadhouse by 14.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,198 shares of the restaurant operator’s stock worth $212,000 after buying an additional 149 shares in the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $195.66, for a total value of $119,352.60. Following the transaction, the director now owns 3,532 shares in the company, valued at $691,071.12. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s 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 sale, the chief technology officer now owns 16,342 shares of the company’s stock, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,480 shares of company stock valued at $668,603 in the last three months. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $183.49 on Tuesday. Texas Roadhouse, Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $206.04. The firm’s 50 day simple moving average is $186.02 and its 200-day simple moving average is $179.71. The company has a market cap of $12.24 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, December 10th. Texas Roadhouse’s payout ratio is 41.92%.

Wall Street Analysts Forecast Growth

TXRH has been the topic of several recent analyst reports. The Goldman Sachs Group began coverage on Texas Roadhouse in a research note on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price on the stock. Bank of America lifted their price objective on shares of Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research report on Thursday, January 16th. Gordon Haskett cut shares of Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price on the stock. in a research note on Wednesday, January 8th. Finally, Evercore ISI upped their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Texas Roadhouse has an average rating of “Hold” and a consensus price target of $191.26.

Texas Roadhouse 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.