Geode Capital Management LLC Increases Holdings in Texas Roadhouse Inc (TXRH)
Geode Capital Management LLC raised its stake in Texas Roadhouse Inc (NASDAQ:TXRH) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 590,462 shares of the restaurant operator’s stock after acquiring an additional 8,303 shares during the period. Geode Capital Management LLC’s holdings in Texas Roadhouse were worth $31,105,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TXRH. Cerebellum GP LLC bought a new stake in Texas Roadhouse in the 4th quarter valued at $122,000. Cubist Systematic Strategies LLC bought a new stake in Texas Roadhouse in the 3rd quarter valued at $193,000. Claraphi Advisory Network LLC bought a new stake in Texas Roadhouse in the 4th quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Texas Roadhouse by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,920 shares of the restaurant operator’s stock valued at $207,000 after acquiring an additional 1,308 shares during the last quarter. Finally, Polen Capital Management LLC bought a new stake in Texas Roadhouse in the 4th quarter valued at $219,000. Institutional investors own 87.73% of the company’s stock.
A number of research firms have recently weighed in on TXRH. Morgan Stanley restated an “equal weight” rating and issued a $55.00 target price (down from $57.00) on shares of Texas Roadhouse in a report on Wednesday, February 21st. BTIG Research boosted their target price on shares of Texas Roadhouse to $67.00 and gave the stock a “reduce” rating in a report on Tuesday, January 16th. Royal Bank of Canada restated a “hold” rating and issued a $58.00 target price on shares of Texas Roadhouse in a report on Friday, February 23rd. Mizuho began coverage on shares of Texas Roadhouse in a report on Thursday, March 15th. They issued a “buy” rating and a $66.00 target price on the stock. Finally, Credit Suisse Group upgraded shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.81.
Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Tuesday, February 20th. The restaurant operator reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Texas Roadhouse had a net margin of 5.93% and a return on equity of 17.20%. The firm had revenue of $545.10 million during the quarter, compared to analysts’ expectations of $545.24 million. During the same period in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. analysts predict that Texas Roadhouse Inc will post 2.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. Texas Roadhouse’s payout ratio is currently 54.35%.
In other Texas Roadhouse news, insider Scott Matthew Colosi sold 10,644 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $58.55, for a total value of $623,206.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Zarley sold 10,900 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $56.82, for a total transaction of $619,338.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,418 shares of company stock valued at $3,219,565. 6.60% of the stock is owned by corporate insiders.
Texas Roadhouse Company Profile
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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