Meeder Asset Management Inc. Purchases New Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Meeder Asset Management Inc. acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,395 shares of the restaurant operator’s stock, valued at approximately $2,643,000.

A number of other institutional investors have also recently bought and sold shares of TXRH. Norges Bank acquired a new position in Texas Roadhouse in the 4th quarter valued at approximately $78,544,000. Balyasny Asset Management L.P. increased its stake in shares of Texas Roadhouse by 4,150.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock worth $55,211,000 after acquiring an additional 441,069 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth $28,724,000. Bank of Nova Scotia boosted its position in Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock valued at $27,200,000 after purchasing an additional 218,287 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Texas Roadhouse by 2,985.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock valued at $25,481,000 after purchasing an additional 201,714 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Trading Down 0.7 %

Shares of TXRH stock opened at $161.85 on Friday. The firm has a market capitalization of $10.79 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. Texas Roadhouse, Inc. has a 1 year low of $91.06 and a 1 year high of $177.72. The firm’s fifty day simple moving average is $168.12 and its 200 day simple moving average is $163.04.

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

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 annualized dividend and a yield of 1.51%. Texas Roadhouse’s dividend payout ratio (DPR) is 49.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America lifted their price target on Texas Roadhouse from $189.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a research report on Friday, June 7th. Evercore ISI raised their price target on shares of Texas Roadhouse from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wedbush upped their price objective on shares of Texas Roadhouse from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Morgan Stanley raised their target price on Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a report on Tuesday, July 16th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.85.

Texas Roadhouse 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.