Summit Asset Management LLC Boosts Stock Holdings in Texas Roadhouse, Inc. $TXRH

Summit Asset Management LLC raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 23.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,674 shares of the restaurant operator’s stock after acquiring an additional 322 shares during the period. Summit Asset Management LLC’s holdings in Texas Roadhouse were worth $314,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the transaction, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares of the company’s stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,342 shares of company stock valued at $1,443,704 in the last three months. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Melius assumed coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They set a “buy” rating and a $235.00 price target on the stock. Zacks Research lowered shares of Texas Roadhouse from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Mizuho raised shares of Texas Roadhouse to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Stephens reduced their target price on shares of Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.21.

Texas Roadhouse Trading Up 2.7%

Shares of TXRH opened at $165.03 on Friday. The company’s fifty day simple moving average is $167.61 and its 200-day simple moving average is $177.96. The company has a market cap of $10.97 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.50 and a beta of 0.87. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.59%.

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.