Assetmark Inc. Acquires 8,859 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Assetmark Inc. boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1,042.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,709 shares of the restaurant operator’s stock after acquiring an additional 8,859 shares during the quarter. Assetmark Inc.’s holdings in Texas Roadhouse were worth $1,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Texas Roadhouse during the first quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Texas Roadhouse during the 2nd quarter worth $25,000. Hollencrest Capital Management bought a new position in Texas Roadhouse in the 2nd quarter valued at $25,000. McClarren Financial Advisors Inc. increased its stake in shares of Texas Roadhouse by 4,175.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 167 shares during the period. Finally, PSI Advisors LLC raised its position in shares of Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Down 0.8 %

Shares of TXRH stock opened at $198.91 on Friday. Texas Roadhouse, Inc. has a 12-month low of $109.13 and a 12-month high of $203.32. The firm has a fifty day moving average of $178.88 and a 200-day moving average of $172.19. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 1.67 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. Texas Roadhouse’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, equities analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s payout ratio is 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of Texas Roadhouse stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

TXRH has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Texas Roadhouse from $175.00 to $185.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Morgan Stanley increased their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Loop Capital cut their price target on Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Stifel Nicolaus lifted their price objective on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $189.00.

About Texas Roadhouse

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.