Geode Capital Management LLC Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Geode Capital Management LLC boosted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,201,641 shares of the restaurant operator’s stock after acquiring an additional 18,126 shares during the quarter. Geode Capital Management LLC owned 1.80% of Texas Roadhouse worth $212,261,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in shares of Texas Roadhouse during the second quarter valued at $25,000. McClarren Financial Advisors Inc. boosted its holdings in shares of Texas Roadhouse by 4,175.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 167 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Texas Roadhouse during the 3rd quarter valued at about $30,000. PSI Advisors LLC grew its stake in shares of Texas Roadhouse by 70.8% in the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Texas Roadhouse by 118.6% during the third quarter. UMB Bank n.a. now owns 258 shares of the restaurant operator’s stock valued at $46,000 after purchasing an additional 140 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXRH has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup increased their target price on Texas Roadhouse from $192.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Bank of America raised their target price on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barclays upped their price target on shares of Texas Roadhouse from $160.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and an average target price of $190.09.

Texas Roadhouse Trading Down 1.5 %

NASDAQ:TXRH opened at $186.86 on Monday. The stock has a 50-day moving average price of $190.68 and a 200 day moving average price of $176.92. Texas Roadhouse, Inc. has a 12-month low of $113.87 and a 12-month high of $206.04. The stock has a market capitalization of $12.47 billion, a P/E ratio of 32.11, a P/E/G ratio of 1.59 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data 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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the business earned $0.95 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, research analysts predict that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s payout ratio is currently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 16,342 shares of the company’s stock, valued at $3,305,332.92. This represents a 8.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps sold 610 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the transaction, the director now owns 3,532 shares of the company’s stock, valued at $691,071.12. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.