Oppenheimer Asset Management Inc. Buys 339 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Oppenheimer Asset Management Inc. boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,899 shares of the restaurant operator’s stock after purchasing an additional 339 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Texas Roadhouse were worth $2,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gries Financial LLC raised its position in Texas Roadhouse by 6.5% in the 2nd quarter. Gries Financial LLC now owns 1,876 shares of the restaurant operator’s stock valued at $322,000 after purchasing an additional 114 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Texas Roadhouse by 4.8% in the first quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock valued at $414,000 after buying an additional 122 shares during the last quarter. Signaturefd LLC lifted its position in Texas Roadhouse by 8.0% during the 2nd quarter. Signaturefd LLC now owns 1,883 shares of the restaurant operator’s stock worth $323,000 after buying an additional 140 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Roadhouse during the 2nd quarter worth about $25,000. Finally, Bridge City Capital LLC increased its position in Texas Roadhouse by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 19,245 shares of the restaurant operator’s stock valued at $2,973,000 after acquiring an additional 150 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Texas Roadhouse Trading Up 1.4 %

Shares of Texas Roadhouse stock opened at $165.62 on Wednesday. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $177.72. The company has a market capitalization of $11.06 billion, a PE ratio of 33.53, a PEG ratio of 1.46 and a beta of 0.99. The stock’s fifty day simple moving average is $167.81 and its 200 day simple moving average is $163.55.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a return on equity of 30.94% and a net margin of 7.47%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $1.22 EPS. Texas Roadhouse’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts predict that Texas Roadhouse, Inc. will post 6.32 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, September 4th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 49.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Texas Roadhouse from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Bank of America lifted their target price on Texas Roadhouse from $189.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. BMO Capital Markets upped their price target on Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Stephens lifted their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $171.85.

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.