Bank of New York Mellon Corp Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bank of New York Mellon Corp raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 744,624 shares of the restaurant operator’s stock after purchasing an additional 2,578 shares during the quarter. Bank of New York Mellon Corp owned 1.11% of Texas Roadhouse worth $127,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Texas Roadhouse by 4.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,679 shares of the restaurant operator’s stock valued at $414,000 after acquiring an additional 122 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Roadhouse during the 2nd quarter valued at approximately $25,000. Bridge City Capital LLC lifted its position in shares of Texas Roadhouse by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 19,245 shares of the restaurant operator’s stock valued at $2,973,000 after acquiring an additional 150 shares during the period. LRI Investments LLC acquired a new stake in shares of Texas Roadhouse during the 1st quarter valued at approximately $25,000. Finally, Advisory Services Network LLC lifted its position in shares of Texas Roadhouse by 0.6% during the 4th quarter. Advisory Services Network LLC now owns 29,163 shares of the restaurant operator’s stock valued at $3,565,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TXRH shares. Morgan Stanley lifted their price target on shares of Texas Roadhouse from $155.00 to $162.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Texas Roadhouse from $190.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Robert W. Baird lifted their price target on shares of Texas Roadhouse from $178.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Barclays lifted their price objective on Texas Roadhouse from $138.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets lifted their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $171.85.

Texas Roadhouse Stock Down 0.5 %

Shares of NASDAQ TXRH opened at $167.79 on Tuesday. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $177.72. The firm has a fifty day moving average of $169.31 and a 200-day moving average of $161.12. The stock has a market capitalization of $11.19 billion, a PE ratio of 33.97, a P/E/G ratio of 1.52 and a beta of 1.01.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company earned $1.22 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts expect that Texas Roadhouse, Inc. will post 6.32 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.61 per share. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 annualized dividend and a dividend yield of 1.45%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

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.