877,915 Shares in Texas Roadhouse, Inc. $TXRH Purchased by Norges Bank

Norges Bank acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 877,915 shares of the restaurant operator’s stock, valued at approximately $145,734,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors grew its stake in Texas Roadhouse by 580.2% in the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock worth $371,658,000 after acquiring an additional 1,908,033 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Texas Roadhouse in the 3rd quarter worth about $157,310,000. Victory Capital Management Inc. grew its stake in Texas Roadhouse by 770.6% in the 3rd quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock worth $161,540,000 after acquiring an additional 860,571 shares in the last quarter. Steadfast Capital Management LP grew its stake in Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock worth $211,949,000 after acquiring an additional 635,178 shares in the last quarter. Finally, UBS Group AG grew its stake in Texas Roadhouse by 60.4% in the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock worth $230,317,000 after acquiring an additional 522,509 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of research analyst reports. KeyCorp restated a “sector weight” rating on shares of Texas Roadhouse in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. TD Cowen upped their target price on shares of Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Wells Fargo & Company dropped their price objective on shares of Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Finally, Stifel Nicolaus increased their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. One equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $196.36.

Insider Buying and Selling

In other Texas Roadhouse news, Director Curtis Warfield sold 2,640 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $183.05, for a total value of $483,252.00. Following the completion of the sale, the director directly owned 5,361 shares in the company, valued at $981,331.05. This trade represents a 33.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory N. Moore sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the sale, the director owned 30,900 shares of the company’s stock, valued at approximately $5,504,526. This trade represents a 3.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,716 shares of company stock valued at $3,251,991 over the last quarter. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH opened at $166.19 on Thursday. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.87 and a beta of 0.79. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $197.00. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $168.13 and a two-hundred day moving average of $173.83.

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

Texas Roadhouse Announces Dividend

The company 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 $0.75 dividend. 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 47.92%.

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.