Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,429 shares of the restaurant operator’s stock after buying an additional 348 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Texas Roadhouse were worth $2,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in Texas Roadhouse by 4.3% during the 4th quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator’s stock worth $31,768,000 after purchasing an additional 7,301 shares during the period. Golden State Wealth Management LLC increased its holdings in Texas Roadhouse by 157.3% during the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator’s stock worth $776,000 after purchasing an additional 2,848 shares during the period. Comerica Bank increased its holdings in Texas Roadhouse by 16.0% during the 4th quarter. Comerica Bank now owns 132,914 shares of the restaurant operator’s stock worth $23,982,000 after purchasing an additional 18,339 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Texas Roadhouse by 253.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator’s stock worth $6,346,000 after purchasing an additional 27,312 shares during the period. Finally, Brighton Jones LLC purchased a new position in Texas Roadhouse during the 1st quarter worth $499,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Texas Roadhouse

In other news, Director Donna E. Epps sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the transaction, the director directly owned 4,632 shares in the company, valued at $863,960.64. The trade was a 14.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory N. Moore sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the completion of the transaction, the director owned 38,050 shares in the company, valued at $7,138,941. This represents a 2.56% 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.

Analyst Upgrades and Downgrades

Several research firms have commented on TXRH. Barclays raised their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. The Goldman Sachs Group increased their target price on Texas Roadhouse from $184.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Melius Research raised Texas Roadhouse to a “strong-buy” rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Finally, Guggenheim increased their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Moderate Buy” and a consensus price target of $196.85.

Texas Roadhouse Trading Down 1.2%

TXRH stock opened at $182.97 on Friday. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04. The stock has a market cap of $12.14 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.61 and a beta of 0.87. The business’s 50-day moving average is $188.96 and its 200 day moving average is $179.16.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 3rd. Texas Roadhouse’s payout ratio is currently 41.98%.

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.