Congress Asset Management Co. Trims Stock Position in Texas Roadhouse, Inc. $TXRH

Congress Asset Management Co. lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 202,763 shares of the restaurant operator’s stock after selling 95,475 shares during the period. Congress Asset Management Co. owned about 0.31% of Texas Roadhouse worth $33,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Caldwell Trust Co purchased a new stake in Texas Roadhouse during the second quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC bought a new position in Texas Roadhouse in the third quarter worth approximately $33,000. Root Financial Partners LLC purchased a new position in shares of Texas Roadhouse during the 3rd quarter worth $36,000. Salomon & Ludwin LLC boosted its stake 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 worth $50,000 after acquiring an additional 81 shares during the last quarter. Finally, LRI Investments LLC grew its position 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 acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

TXRH opened at $167.92 on Wednesday. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. The firm’s fifty day moving average is $181.15 and its 200 day moving average is $173.47. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 EPS. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.75 per share. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, March 17th. Texas Roadhouse’s dividend payout ratio (DPR) is 49.26%.

Insider Activity

In other Texas Roadhouse news, Director Hugh J. Carroll sold 988 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $170.96, for a total value of $168,908.48. Following the completion of the transaction, the director directly owned 866 shares in the company, valued at $148,051.36. This represents a 53.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donna E. Epps sold 850 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $172.45, for a total transaction of $146,582.50. Following the sale, the director directly owned 4,892 shares of the company’s stock, valued at approximately $843,625.40. This trade represents a 14.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,988 shares of company stock valued at $4,133,794 in the last three months. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. KeyCorp restated a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, February 20th. Wells Fargo & Company boosted their price target on Texas Roadhouse from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. BTIG Research restated a “buy” rating and issued a $200.00 price target on shares of Texas Roadhouse in a research report on Friday, February 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $165.00 price objective on shares of Texas Roadhouse in a research note on Friday, February 20th. Finally, Stephens lifted their price objective on Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.55.

Texas Roadhouse Company 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.