1,711 Shares in Texas Roadhouse, Inc. (NASDAQ:TXRH) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, Holdings Channel.com reports. The firm bought 1,711 shares of the restaurant operator’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Texas Roadhouse by 128.9% during the second quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock valued at $131,375,000 after buying an additional 430,814 shares during the last quarter. Fiera Capital Corp acquired a new stake in Texas Roadhouse in the 3rd quarter valued at approximately $41,670,000. AQR Capital Management LLC raised its stake in Texas Roadhouse by 22.3% during the 2nd quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock valued at $156,230,000 after acquiring an additional 165,738 shares in the last quarter. Jennison Associates LLC boosted its position in Texas Roadhouse by 29.1% during the 3rd quarter. Jennison Associates LLC now owns 622,561 shares of the restaurant operator’s stock worth $109,944,000 after acquiring an additional 140,439 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new position in shares of Texas Roadhouse in the second quarter worth $21,462,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of NASDAQ:TXRH opened at $202.12 on Tuesday. The firm has a 50 day simple moving average of $184.27 and a 200 day simple moving average of $174.14. Texas Roadhouse, Inc. has a 52 week low of $110.88 and a 52 week high of $203.32. The company has a market cap of $13.48 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Texas Roadhouse’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts predict that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.61 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.21%. Texas Roadhouse’s dividend payout ratio is 41.92%.

Insider Transactions at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the transaction, the director now directly owns 3,532 shares in the company, valued at $691,071.12. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at $3,305,332.92. This trade represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TXRH. Loop Capital cut their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Citigroup upped their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Truist Financial raised their price objective on shares of Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Guggenheim upped their target price on Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Robert W. Baird lifted their price target on Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $189.00.

Texas Roadhouse Company Profile

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.