Palisade Capital Management LLC NJ decreased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,842 shares of the restaurant operator’s stock after selling 21,568 shares during the period. Palisade Capital Management LLC NJ owned about 0.42% of Texas Roadhouse worth $15,277,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Texas Roadhouse during the fourth quarter valued at $20,142,000. Teachers Advisors LLC increased its position in shares of Texas Roadhouse by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 105,980 shares of the restaurant operator’s stock valued at $5,112,000 after buying an additional 2,077 shares during the period. Private Trust Co. NA acquired a new position in shares of Texas Roadhouse during the first quarter valued at $488,000. Atria Investments LLC increased its position in shares of Texas Roadhouse by 2.8% in the first quarter. Atria Investments LLC now owns 6,730 shares of the restaurant operator’s stock valued at $300,000 after buying an additional 184 shares during the period. Finally, Fox Run Management L.L.C. increased its position in shares of Texas Roadhouse by 36.7% in the first quarter. Fox Run Management L.L.C. now owns 6,700 shares of the restaurant operator’s stock valued at $298,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 88.41% of the company’s stock.
Texas Roadhouse, Inc. (NASDAQ TXRH) traded down 0.51% during midday trading on Friday, hitting $48.58. The stock had a trading volume of 354,140 shares. The stock has a 50-day moving average price of $49.61 and a 200 day moving average price of $47.36. Texas Roadhouse, Inc. has a 12-month low of $37.23 and a 12-month high of $51.91. The firm has a market cap of $3.45 billion, a P/E ratio of 29.25 and a beta of 0.54.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Monday, July 31st. The restaurant operator reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Texas Roadhouse had a return on equity of 16.49% and a net margin of 5.63%. The firm had revenue of $566.30 million during the quarter, compared to the consensus estimate of $563.23 million. During the same period in the previous year, the firm posted $0.47 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Texas Roadhouse, Inc. will post $1.93 earnings per share for the current fiscal year.
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TXRH has been the topic of several research analyst reports. Maxim Group restated a “buy” rating and set a $52.00 target price on shares of Texas Roadhouse in a research note on Thursday, April 27th. Telsey Advisory Group boosted their price target on Texas Roadhouse from $46.00 to $54.00 and gave the company a “market perform” rating in a research note on Tuesday, May 2nd. BMO Capital Markets reiterated a “hold” rating and set a $48.00 price target (up previously from $41.00) on shares of Texas Roadhouse in a research note on Tuesday, May 2nd. Royal Bank Of Canada boosted their price objective on Texas Roadhouse from $49.00 to $53.00 and gave the company a “sector perform” rating in a report on Tuesday, May 2nd. Finally, Barclays PLC boosted their price objective on Texas Roadhouse from $47.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.11.
In related news, Director Kathy Widmer sold 5,200 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $48.97, for a total transaction of $254,644.00. Following the completion of the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $673,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Chris Jacobsen sold 2,500 shares of Texas Roadhouse stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $49.25, for a total value of $123,125.00. Following the transaction, the insider now owns 15,184 shares of the company’s stock, valued at $747,812. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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