FARMERS & MERCHANTS TRUST Co OF LONG BEACH Purchases New Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,350 shares of the restaurant operator’s stock, valued at approximately $238,000.

Several other large investors also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new stake in shares of Texas Roadhouse in the first quarter valued at about $2,338,000. Los Angeles Capital Management LLC increased its holdings in shares of Texas Roadhouse by 158.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 22,510 shares of the restaurant operator’s stock worth $3,477,000 after buying an additional 13,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Texas Roadhouse during the 1st quarter valued at approximately $4,522,000. Sei Investments Co. lifted its holdings in Texas Roadhouse by 31.6% in the first quarter. Sei Investments Co. now owns 73,707 shares of the restaurant operator’s stock valued at $11,385,000 after acquiring an additional 17,691 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Texas Roadhouse by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after acquiring an additional 53,419 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXRH. Truist Financial increased their price target on Texas Roadhouse from $196.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, October 4th. BMO Capital Markets boosted their price target on shares of Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Wedbush restated an “outperform” rating and issued a $190.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Texas Roadhouse from $190.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Citigroup lifted their price target on Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $176.90.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $175.70 on Friday. The stock has a market cap of $11.74 billion, a PE ratio of 35.57, a P/E/G ratio of 1.59 and a beta of 0.99. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $180.69. The stock has a fifty day moving average price of $169.32 and a 200 day moving average price of $166.13.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $1.22 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.34 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 1.39%. The ex-dividend date was Wednesday, September 4th. Texas Roadhouse’s payout ratio is 49.39%.

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.