Palisade Capital Management LLC NJ reduced its position in shares of Texas Roadhouse Inc. (NASDAQ:TXRH) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,318 shares of the company’s stock after selling 55,157 shares during the period. Palisade Capital Management LLC NJ owned 0.54% of Texas Roadhouse worth $17,251,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in TXRH. Creative Planning raised its position in Texas Roadhouse by 31.2% in the second quarter. Creative Planning now owns 2,481 shares of the company’s stock worth $113,000 after buying an additional 590 shares in the last quarter. LS Investment Advisors LLC raised its position in Texas Roadhouse by 66.1% in the second quarter. LS Investment Advisors LLC now owns 3,891 shares of the company’s stock worth $177,000 after buying an additional 1,548 shares in the last quarter. BlackRock Inc. raised its position in Texas Roadhouse by 126.1% in the first quarter. BlackRock Inc. now owns 4,781 shares of the company’s stock worth $208,000 after buying an additional 2,666 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in Texas Roadhouse during the second quarter worth approximately $211,000. Finally, Parametrica Management Ltd purchased a new position in Texas Roadhouse during the second quarter worth approximately $224,000. 88.36% of the stock is currently owned by institutional investors.
Shares of Texas Roadhouse Inc. (NASDAQ:TXRH) traded down 0.21% during mid-day trading on Wednesday, reaching $38.91. The company’s stock had a trading volume of 258,407 shares. The firm has a market cap of $2.74 billion, a PE ratio of 24.47 and a beta of 0.54. Texas Roadhouse Inc. has a 12 month low of $33.06 and a 12 month high of $49.00. The company has a 50-day moving average of $40.65 and a 200-day moving average of $43.79.
Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Texas Roadhouse had a return on equity of 16.78% and a net margin of 5.88%. The firm had revenue of $509 million for the quarter, compared to analysts’ expectations of $509.80 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts predict that Texas Roadhouse Inc. will post $1.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, September 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.95%. Texas Roadhouse’s payout ratio is 48.10%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Saturday, July 30th. Robert W. Baird reaffirmed a “neutral” rating on shares of Texas Roadhouse in a research report on Thursday, September 8th. BTIG Research reaffirmed a “neutral” rating on shares of Texas Roadhouse in a research report on Tuesday, August 2nd. Stifel Nicolaus lowered shares of Texas Roadhouse from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $47.00 in a research report on Tuesday, July 26th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $42.00 target price on shares of Texas Roadhouse in a research report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.56.
In related news, CEO Wayne Kent Taylor sold 150,000 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $46.03, for a total transaction of $6,904,500.00. Following the sale, the chief executive officer now directly owns 4,363,261 shares in the company, valued at approximately $200,840,903.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James R. Zarley acquired 23,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $42.23 per share, for a total transaction of $1,005,074.00. Following the completion of the purchase, the director now owns 104,000 shares in the company, valued at approximately $4,391,920. The disclosure for this purchase can be found here. Corporate insiders own 7.40% of the company’s stock.
About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches.