Envestnet Asset Management Inc. Cuts Holdings in Texas Roadhouse, Inc. $TXRH

Envestnet Asset Management Inc. lowered its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193,026 shares of the restaurant operator’s stock after selling 19,006 shares during the quarter. Envestnet Asset Management Inc. owned 0.29% of Texas Roadhouse worth $32,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TXRH. Caldwell Trust Co purchased a new stake in Texas Roadhouse during the second quarter valued at about $28,000. Root Financial Partners LLC bought a new position in shares of Texas Roadhouse during the 3rd quarter valued at about $36,000. Salomon & Ludwin LLC raised its holdings in shares of Texas Roadhouse by 37.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 81 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Texas Roadhouse by 100.0% during the 3rd quarter. LRI Investments LLC now owns 300 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 150 shares in the last quarter. Finally, Bogart Wealth LLC lifted its position in Texas Roadhouse by 51.5% in the 2nd quarter. Bogart Wealth LLC now owns 303 shares of the restaurant operator’s stock worth $57,000 after buying an additional 103 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Up 0.4%

Shares of Texas Roadhouse stock opened at $183.37 on Thursday. The company’s fifty day simple moving average is $178.54 and its two-hundred day simple moving average is $173.59. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99. The firm has a market cap of $12.13 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.88.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer owned 91,774 shares of the company’s stock, valued at $17,987,704. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,400 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total value of $238,000.00. Following the completion of the sale, the director owned 32,150 shares of the company’s stock, valued at approximately $5,465,500. This trade represents a 4.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,400 shares of company stock worth $2,320,920 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TXRH. Mizuho upgraded shares of Texas Roadhouse to a “strong-buy” rating in a research report on Tuesday, October 28th. Barclays increased their target price on shares of Texas Roadhouse from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. Zacks Research raised shares of Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 8th. The Goldman Sachs Group upped their price target on shares of Texas Roadhouse from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada decreased their price objective on Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $196.10.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.