Verition Fund Management LLC Acquires 70,007 Shares of Texas Roadhouse, Inc. $TXRH

Verition Fund Management LLC raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 390.9% in the fourth quarter, HoldingsChannel reports. The firm owned 87,914 shares of the restaurant operator’s stock after buying an additional 70,007 shares during the quarter. Verition Fund Management LLC’s holdings in Texas Roadhouse were worth $14,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NewEdge Advisors LLC raised its position in shares of Texas Roadhouse by 12.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after acquiring an additional 259 shares in the last quarter. Focus Partners Wealth raised its position in shares of Texas Roadhouse by 23.3% in the 1st quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock worth $1,020,000 after acquiring an additional 1,157 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Texas Roadhouse by 36.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock worth $70,000 after acquiring an additional 111 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Texas Roadhouse in the 2nd quarter worth approximately $657,000. Finally, Marshall Wace LLP bought a new position in shares of Texas Roadhouse in the 2nd quarter worth approximately $1,936,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $167.54 on Tuesday. The business’s fifty day simple moving average is $168.42 and its two-hundred day simple moving average is $173.61. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $197.00. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.84 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.70 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts anticipate that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is currently 47.92%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the sale, the insider directly owned 10,326 shares in the company, valued at approximately $1,841,538.84. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jane Grote Abell sold 339 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $177.43, for a total value of $60,148.77. Following the sale, the director owned 2,161 shares in the company, valued at approximately $383,426.23. This represents a 13.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,178 shares of company stock worth $1,794,797. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TXRH shares. Morgan Stanley reissued an “overweight” rating and issued a $201.00 target price on shares of Texas Roadhouse in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research report on Friday, May 8th. Stephens increased their target price on Texas Roadhouse from $168.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. TD Cowen increased their target price on Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada raised Texas Roadhouse from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $180.00 to $210.00 in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $196.36.

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.