Renaissance Technologies LLC Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Renaissance Technologies LLC increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 520,800 shares of the restaurant operator’s stock after buying an additional 55,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Texas Roadhouse were worth $89,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Texas Roadhouse by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after purchasing an additional 53,419 shares during the period. Dimensional Fund Advisors LP raised its holdings in Texas Roadhouse by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 833,790 shares of the restaurant operator’s stock valued at $101,916,000 after acquiring an additional 31,079 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Texas Roadhouse by 9.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 768,526 shares of the restaurant operator’s stock valued at $93,937,000 after acquiring an additional 65,480 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Texas Roadhouse by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Norges Bank acquired a new stake in Texas Roadhouse in the fourth quarter valued at $78,544,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Bank of America increased their target price on shares of Texas Roadhouse from $189.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley increased their target price on shares of Texas Roadhouse from $155.00 to $162.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. Wedbush increased their target price on shares of Texas Roadhouse from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Truist Financial increased their target price on shares of Texas Roadhouse from $185.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $171.85.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $163.30 on Tuesday. The company has a 50-day simple moving average of $167.82 and a 200-day simple moving average of $163.44. The firm has a market capitalization of $10.91 billion, a P/E ratio of 33.06, a P/E/G ratio of 1.46 and a beta of 0.99. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $177.72.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, July 25th. The restaurant operator reported $1.79 EPS for the quarter, topping the consensus estimate of $1.64 by $0.15. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be given a $0.61 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.49%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

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.