Wealth Enhancement Advisory Services LLC Has $3.97 Million Holdings in Texas Roadhouse, Inc. $TXRH

Wealth Enhancement Advisory Services LLC trimmed its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 29.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,837 shares of the restaurant operator’s stock after selling 9,817 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Texas Roadhouse were worth $3,970,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Alliancebernstein L.P. grew its position in Texas Roadhouse by 528.2% in the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator’s stock worth $594,603,000 after acquiring an additional 2,667,716 shares in the last quarter. AQR Capital Management LLC boosted its stake in Texas Roadhouse by 85.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator’s stock valued at $439,102,000 after purchasing an additional 1,081,413 shares during the period. Norges Bank acquired a new stake in Texas Roadhouse in the 2nd quarter valued at approximately $159,007,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Texas Roadhouse by 2,515.2% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 417,045 shares of the restaurant operator’s stock valued at $78,158,000 after buying an additional 401,098 shares during the last quarter. Finally, Invesco Ltd. increased its position in Texas Roadhouse by 17.2% in the 2nd quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator’s stock worth $487,965,000 after buying an additional 382,699 shares during the period. Institutional investors own 94.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Hugh J. Carroll sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the sale, the director owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. This trade represents a 35.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gerald L. Morgan sold 5,000 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer owned 91,774 shares of the company’s stock, valued at $17,987,704. This trade represents a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 12,400 shares of company stock valued at $2,320,920. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on TXRH. Wall Street Zen downgraded Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. TD Cowen initiated coverage on Texas Roadhouse in a report on Tuesday, January 20th. They set a “buy” rating and a $215.00 price objective on the stock. Morgan Stanley boosted their price objective on Texas Roadhouse from $205.00 to $208.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. BMO Capital Markets raised their target price on Texas Roadhouse from $155.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $196.33.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $186.52 on Wednesday. The business’s fifty day moving average price is $175.80 and its two-hundred day moving average price is $173.55. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $199.99. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 2.92 and a beta of 0.89.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd were given a $0.68 dividend. The ex-dividend date was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s payout ratio is 41.59%.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.