Portside Wealth Group LLC Invests $256,000 in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Portside Wealth Group LLC acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,537 shares of the restaurant operator’s stock, valued at approximately $256,000.

Several other hedge funds have also recently made changes to their positions in TXRH. Norges Bank bought a new position in shares of Texas Roadhouse in the 4th quarter worth about $155,239,000. Congress Asset Management Co. raised its position in shares of Texas Roadhouse by 8,956.4% in the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator’s stock worth $77,596,000 after acquiring an additional 460,537 shares in the last quarter. FMR LLC raised its position in shares of Texas Roadhouse by 44.8% in the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator’s stock worth $234,737,000 after acquiring an additional 402,465 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Texas Roadhouse by 255.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator’s stock worth $93,888,000 after acquiring an additional 373,812 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Texas Roadhouse by 19,250.9% in the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator’s stock valued at $54,171,000 after buying an additional 323,415 shares during the period. 94.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group raised their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Citigroup downgraded Texas Roadhouse from a “buy” rating to a “neutral” rating and reduced their target price for the company from $213.00 to $164.00 in a research note on Wednesday, April 23rd. Stifel Nicolaus reduced their target price on Texas Roadhouse from $172.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Wedbush raised their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, March 28th. Finally, Wells Fargo & Company reduced their target price on Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.71.

Texas Roadhouse Trading Down 2.9%

NASDAQ:TXRH opened at $189.17 on Wednesday. The stock has a market capitalization of $12.55 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89. The firm’s 50 day moving average is $176.68 and its 200 day moving average is $179.31. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted $1.69 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts predict that Texas Roadhouse, Inc. will post 7.23 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, July 1st. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a yield of 1.44%. Texas Roadhouse’s payout ratio is 41.98%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the transaction, the director now directly owns 38,050 shares in the company, valued at $7,138,941. The trade was a 2.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donna E. Epps sold 800 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the transaction, the director now owns 4,632 shares of the company’s stock, valued at $863,960.64. This trade 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.

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.