Millennium Management LLC Buys 116,721 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Millennium Management LLC raised its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 583,009 shares of the restaurant operator’s stock after purchasing an additional 116,721 shares during the quarter. Millennium Management LLC owned 0.87% of Texas Roadhouse worth $100,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Corient Private Wealth LLC purchased a new position in Texas Roadhouse during the 4th quarter worth $873,000. US Bancorp DE grew its position in Texas Roadhouse by 5.8% in the 4th quarter. US Bancorp DE now owns 11,369 shares of the restaurant operator’s stock worth $1,390,000 after purchasing an additional 620 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Texas Roadhouse by 416.6% in the 4th quarter. Allianz Asset Management GmbH now owns 45,573 shares of the restaurant operator’s stock valued at $5,570,000 after buying an additional 36,751 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Texas Roadhouse by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 29,650 shares of the restaurant operator’s stock worth $3,624,000 after buying an additional 290 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Texas Roadhouse by 5,135.0% in the 4th quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after buying an additional 218,287 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on Texas Roadhouse from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Guggenheim boosted their price target on shares of Texas Roadhouse from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased 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. Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, BTIG Research increased their target price on shares of Texas Roadhouse from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $172.95.

Texas Roadhouse Price Performance

TXRH opened at $174.90 on Friday. Texas Roadhouse, Inc. has a one year low of $91.06 and a one year high of $180.69. The firm has a market capitalization of $11.66 billion, a P/E ratio of 35.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. The company has a fifty day moving average price of $168.36 and a 200-day moving average price of $164.66.

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

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Wednesday, September 4th were paid a $0.61 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.40%. Texas Roadhouse’s dividend payout ratio is presently 49.39%.

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.