Private Advisor Group LLC Sells 367 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Private Advisor Group LLC cut its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,693 shares of the restaurant operator’s stock after selling 367 shares during the period. Private Advisor Group LLC’s holdings in Texas Roadhouse were worth $634,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Texas Roadhouse by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock worth $1,000,356,000 after buying an additional 53,419 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Texas Roadhouse by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 833,790 shares of the restaurant operator’s stock worth $101,916,000 after acquiring an additional 31,079 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Texas Roadhouse by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 768,526 shares of the restaurant operator’s stock worth $93,937,000 after acquiring an additional 65,480 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Texas Roadhouse by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Norges Bank bought a new stake in Texas Roadhouse in the fourth quarter valued at about $78,544,000. 94.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. BMO Capital Markets boosted 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. Wedbush upped their price target on Texas Roadhouse from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. BTIG Research lifted their price objective on Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Stephens upped their target price on shares of Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.85.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $165.62 on Wednesday. The stock has a market capitalization of $11.06 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. Texas Roadhouse, Inc. has a 52 week low of $91.06 and a 52 week high of $177.72. The stock has a fifty day moving average of $167.81 and a 200-day moving average of $163.55.

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

Texas Roadhouse Announces Dividend

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

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.