Bank of Montreal Can Trims Position in Texas Roadhouse, Inc. $TXRH

Bank of Montreal Can trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,245 shares of the restaurant operator’s stock after selling 440 shares during the period. Bank of Montreal Can’s holdings in Texas Roadhouse were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in TXRH. Axiom Investors LLC DE raised its stake in shares of Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after acquiring an additional 2,116,552 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Texas Roadhouse by 209.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock worth $268,209,000 after purchasing an additional 1,089,256 shares in the last quarter. AQR Capital Management LLC increased its holdings in Texas Roadhouse by 54.3% during the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator’s stock worth $209,840,000 after purchasing an additional 443,767 shares during the period. Nuveen LLC bought a new stake in Texas Roadhouse during the 1st quarter valued at $36,208,000. Finally, TD Asset Management Inc lifted its holdings in shares of Texas Roadhouse by 49.1% in the 1st quarter. TD Asset Management Inc now owns 600,666 shares of the restaurant operator’s stock worth $100,089,000 after buying an additional 197,939 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TXRH. Morgan Stanley decreased their price objective on Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their target price on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group lowered their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Stephens cut their price objective on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Barclays reduced their price objective on shares of Texas Roadhouse from $187.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.95.

Insider Buying and Selling at Texas Roadhouse

In other news, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the transaction, the director directly owned 34,550 shares of the company’s stock, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Up 0.3%

NASDAQ TXRH opened at $168.10 on Friday. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The company has a 50 day moving average price of $167.14 and a 200 day moving average price of $177.94. The firm has a market cap of $11.17 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.Texas Roadhouse’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 earnings per share. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, December 2nd. Texas Roadhouse’s dividend payout ratio is currently 41.59%.

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.