Riggs Asset Managment Co. Inc. Buys 12,443 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Riggs Asset Managment Co. Inc. boosted its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 414,766.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,446 shares of the restaurant operator’s stock after acquiring an additional 12,443 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Texas Roadhouse were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXRH. Coppell Advisory Solutions LLC lifted its holdings in Texas Roadhouse by 56.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after acquiring an additional 71 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Texas Roadhouse during the fourth quarter worth about $36,000. Park Place Capital Corp lifted its holdings in Texas Roadhouse by 459.1% during the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator’s stock worth $61,000 after acquiring an additional 303 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Texas Roadhouse by 41.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator’s stock worth $63,000 after acquiring an additional 112 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Texas Roadhouse by 153.9% during the first quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator’s stock worth $76,000 after acquiring an additional 277 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the sale, the director directly owned 38,050 shares in the company, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Donna E. Epps sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director owned 4,632 shares of the company’s stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TXRH shares. Stephens reiterated an “equal weight” rating and set a $170.00 target price on shares of Texas Roadhouse in a report on Tuesday, June 10th. Wells Fargo & Company dropped their price target on Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, April 15th. UBS Group lifted their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Finally, Citigroup downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating and dropped their price target for the company from $213.00 to $164.00 in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Texas Roadhouse has a consensus rating of “Moderate Buy” and an average target price of $192.05.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $188.50 on Friday. The stock’s 50-day simple moving average is $186.82 and its 200 day simple moving average is $178.53. The company has a market cap of $12.51 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.53 and a beta of 0.87. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. Texas Roadhouse’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 EPS. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, June 3rd. Texas Roadhouse’s dividend payout ratio (DPR) is currently 41.98%.

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.