Birinyi Associates Inc. Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Birinyi Associates Inc. grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,886 shares of the restaurant operator’s stock after purchasing an additional 3,315 shares during the quarter. Texas Roadhouse makes up approximately 1.1% of Birinyi Associates Inc.’s holdings, making the stock its 18th biggest position. Birinyi Associates Inc.’s holdings in Texas Roadhouse were worth $4,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in Texas Roadhouse by 2.0% in the 3rd quarter. State Street Corp now owns 1,982,848 shares of the restaurant operator’s stock worth $350,171,000 after acquiring an additional 38,723 shares in the last quarter. Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,201,641 shares of the restaurant operator’s stock worth $212,261,000 after purchasing an additional 18,126 shares during the period. Barclays PLC boosted its stake in Texas Roadhouse by 14.4% in the 3rd quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator’s stock worth $208,539,000 after purchasing an additional 148,462 shares during the period. Geneva Capital Management LLC boosted its position in shares of Texas Roadhouse by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 922,405 shares of the restaurant operator’s stock valued at $162,897,000 after acquiring an additional 3,584 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Texas Roadhouse by 81.6% during the 3rd quarter. FMR LLC now owns 898,522 shares of the restaurant operator’s stock valued at $158,679,000 after acquiring an additional 403,720 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 1.6 %

Shares of Texas Roadhouse stock opened at $174.88 on Wednesday. Texas Roadhouse, Inc. has a 12 month low of $146.75 and a 12 month high of $206.04. The stock’s fifty day moving average price is $178.91 and its 200-day moving average price is $180.30. The firm has a market cap of $11.67 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.23 and a beta of 1.02.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.07. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, March 18th. This represents a $2.72 dividend on an annualized basis and a yield of 1.56%. This is an increase from Texas Roadhouse’s previous quarterly dividend of $0.61. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TXRH shares. Barclays lowered their target price on Texas Roadhouse from $194.00 to $178.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Wedbush lowered their target price on Texas Roadhouse from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group started coverage on Texas Roadhouse in a research report on Thursday, December 5th. They set a “neutral” rating and a $213.00 target price for the company. Gordon Haskett downgraded Texas Roadhouse from a “buy” rating to a “hold” rating and set a $192.00 target price for the company. in a research report on Wednesday, January 8th. Finally, Morgan Stanley upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $192.50.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, insider Christopher C. Colson sold 1,370 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $179.46, for a total value of $245,860.20. Following the completion of the sale, the insider now owns 10,000 shares of the company’s stock, valued at approximately $1,794,600. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.

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.