Oppenheimer Asset Management Inc. Boosts Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Oppenheimer Asset Management Inc. increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 12.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,469 shares of the restaurant operator’s stock after acquiring an additional 1,570 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Texas Roadhouse were worth $2,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in shares of Texas Roadhouse by 9.3% during the first quarter. US Bancorp DE now owns 12,432 shares of the restaurant operator’s stock valued at $1,920,000 after purchasing an additional 1,063 shares in the last quarter. Vanguard Group Inc. lifted its stake in Texas Roadhouse by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after acquiring an additional 53,419 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Texas Roadhouse during the 1st quarter valued at about $2,338,000. Cynosure Group LLC bought a new stake in shares of Texas Roadhouse in the first quarter worth approximately $326,000. Finally, Covestor Ltd raised its holdings in shares of Texas Roadhouse by 1,223.5% during the first quarter. Covestor Ltd now owns 1,575 shares of the restaurant operator’s stock valued at $243,000 after purchasing an additional 1,456 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the firm’s 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 transaction, the director now owns 3,532 shares in the company, valued at approximately $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction dated 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 approximately $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 corporate insiders.

Texas Roadhouse Price Performance

Shares of TXRH opened at $197.99 on Friday. Texas Roadhouse, Inc. has a 1 year low of $109.13 and a 1 year high of $203.32. The company has a 50 day simple moving average of $180.28 and a two-hundred day simple moving average of $172.64. The firm has a market cap of $13.21 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 1.71 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.95 EPS. The company’s revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current 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 issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a yield of 1.23%. Texas Roadhouse’s payout ratio is 41.92%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXRH. JPMorgan Chase & Co. dropped their target price on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada raised their price target on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Morgan Stanley upped their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their target price on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their price target on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $189.00.

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.