Oppenheimer Asset Management Inc. Sells 3,048 Shares of Texas Roadhouse, Inc. $TXRH

Oppenheimer Asset Management Inc. trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 14.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,198 shares of the restaurant operator’s stock after selling 3,048 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Texas Roadhouse were worth $3,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TXRH. Brooklyn Investment Group increased its position in Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock worth $27,000 after buying an additional 134 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Texas Roadhouse in the 1st quarter worth approximately $33,000. Ameritas Advisory Services LLC bought a new stake in Texas Roadhouse during the 2nd quarter worth approximately $53,000. Farther Finance Advisors LLC lifted its holdings in Texas Roadhouse by 22.8% during the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after purchasing an additional 58 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Texas Roadhouse in the first quarter worth approximately $59,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Mizuho began coverage on shares of Texas Roadhouse in a research report on Monday. They set an “outperform” rating and a $190.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price target on shares of Texas Roadhouse in a research note on Tuesday, October 21st. Stephens set a $175.00 price objective on Texas Roadhouse in a research report on Monday, October 13th. Stifel Nicolaus upped their price objective on Texas Roadhouse from $180.00 to $188.00 and gave the stock a “hold” rating in a research note on Friday, July 25th. Finally, Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a “buy” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Moderate Buy” and an average target price of $196.16.

Texas Roadhouse Trading Down 1.0%

Shares of TXRH stock opened at $172.56 on Wednesday. The stock’s 50-day moving average price is $169.23 and its 200-day moving average price is $177.81. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 EPS. As a group, research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse’s dividend payout ratio is presently 41.53%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares of the company’s stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. This represents a 17.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,342 shares of company stock worth $1,443,704 over the last 90 days. 0.50% of the stock is owned by insiders.

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.