MQS Management LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

MQS Management LLC bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, Holdings Channel.com reports. The institutional investor bought 1,323 shares of the restaurant operator’s stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Texas Roadhouse by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after purchasing an additional 53,419 shares in the last quarter. Geneva Capital Management LLC boosted its holdings in shares of Texas Roadhouse by 0.4% in the 3rd quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock worth $162,897,000 after purchasing an additional 3,584 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Texas Roadhouse by 22.3% in the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after purchasing an additional 165,738 shares in the last quarter. Marshall Wace LLP boosted its holdings 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 worth $131,375,000 after purchasing an additional 430,814 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Texas Roadhouse by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock worth $127,859,000 after purchasing an additional 2,578 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on TXRH. Bank of America upped their price objective on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays upped their price objective on Texas Roadhouse from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Guggenheim increased their target price on Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Stifel Nicolaus increased their target price on Texas Roadhouse from $180.00 to $195.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Truist Financial increased their target price on Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of “Hold” and a consensus price target of $189.00.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 610 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total transaction of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 1,500 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total value of $303,390.00. Following the sale, the chief technology officer now owns 16,342 shares in the company, 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. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $197.99 on Friday. Texas Roadhouse, Inc. has a 52-week low of $109.13 and a 52-week high of $203.32. The firm has a market capitalization of $13.21 billion, a P/E ratio of 34.01, a P/E/G ratio of 1.71 and a beta of 0.98. The stock has a 50 day moving average price of $179.55 and a 200-day moving average price of $172.37.

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

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.92%.

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.