Brighton Jones LLC Raises Stock Position in Texas Roadhouse, Inc. $TXRH

Brighton Jones LLC increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 212.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,354 shares of the restaurant operator’s stock after acquiring an additional 6,361 shares during the quarter. Brighton Jones LLC’s holdings in Texas Roadhouse were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group raised its holdings in shares of Texas Roadhouse by 478.6% during the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of Texas Roadhouse during the first quarter worth $33,000. Ameritas Advisory Services LLC purchased a new position in Texas Roadhouse in the second quarter valued at $53,000. WPG Advisers LLC purchased a new position in Texas Roadhouse in the first quarter valued at $59,000. Finally, Farther Finance Advisors LLC increased its holdings in Texas Roadhouse by 22.8% in the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of recent analyst reports. Melius initiated coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They issued a “buy” rating and a $235.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price objective on shares of Texas Roadhouse in a report on Tuesday, October 21st. Melius Research raised shares of Texas Roadhouse to a “strong-buy” rating in a report on Monday, July 14th. Finally, Stephens set a $175.00 price objective on shares of Texas Roadhouse in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.16.

Texas Roadhouse Stock Down 0.5%

TXRH stock opened at $175.54 on Monday. The stock has a market capitalization of $11.66 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.60 and a beta of 0.82. The firm has a 50-day simple moving average of $169.29 and a 200-day simple moving average of $177.68. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.79 EPS. On average, analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $0.68 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 41.53%.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the sale, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. This represents a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares of the company’s stock, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,342 shares of company stock worth $1,443,704. Insiders own 0.50% of the company’s stock.

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.