Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 92.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,648 shares of the restaurant operator’s stock after purchasing an additional 81,627 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Texas Roadhouse were worth $16,320,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Texas Roadhouse by 165.8% during the 1st quarter. Fifth Third Bancorp now owns 311 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 194 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Texas Roadhouse in the second quarter valued at approximately $34,000. Psagot Investment House Ltd. acquired a new position in Texas Roadhouse in the second quarter valued at approximately $72,000. Bbva USA acquired a new position in Texas Roadhouse in the second quarter valued at approximately $79,000. Finally, Wolverine Asset Management LLC acquired a new position in Texas Roadhouse in the first quarter valued at approximately $109,000. Institutional investors and hedge funds own 90.51% of the company’s stock.
Texas Roadhouse stock opened at $94.72 on Friday. Texas Roadhouse, Inc. has a twelve month low of $59.60 and a twelve month high of $110.75. The stock’s fifty day simple moving average is $92.78 and its 200-day simple moving average is $95.89. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $6.61 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.48 and a beta of 1.09.
The company also recently announced a quarterly dividend, which was paid on Friday, September 24th. Investors of record on Wednesday, September 8th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. Texas Roadhouse’s payout ratio is currently 355.56%.
A number of research analysts recently commented on TXRH shares. Raymond James decreased their price objective on Texas Roadhouse from $115.00 to $108.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 15th. Wells Fargo & Company upped their price objective on Texas Roadhouse from $99.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, July 30th. Stephens decreased their price objective on Texas Roadhouse from $110.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 9th. Truist boosted their target price on Texas Roadhouse from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, June 9th. Finally, Zacks Investment Research lowered Texas Roadhouse from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 1st. Twelve research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and an average price target of $105.70.
Texas Roadhouse Profile
Texas Roadhouse, Inc is a full-service, casual dining restaurant chain, which offers assorted seasoned and aged steaks hand-cut daily on the premises and cooked to order over open gas-fired grills. It operates restaurants under the Texas Roadhouse and Aspen Creek names. The firm also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, an assortment of hamburgers, salads and sandwiches.
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