Invesco Ltd. Boosts Stake in Texas Roadhouse, Inc. $TXRH

Invesco Ltd. increased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 17.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,603,729 shares of the restaurant operator’s stock after buying an additional 382,699 shares during the quarter. Invesco Ltd.’s holdings in Texas Roadhouse were worth $487,965,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Axiom Investors LLC DE lifted its stake in Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock valued at $362,221,000 after buying an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Texas Roadhouse by 209.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock valued at $268,209,000 after acquiring an additional 1,089,256 shares during the period. Geode Capital Management LLC raised its position in Texas Roadhouse by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,302,021 shares of the restaurant operator’s stock valued at $244,048,000 after purchasing an additional 19,296 shares during the last quarter. AQR Capital Management LLC raised its position in Texas Roadhouse by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator’s stock valued at $209,840,000 after purchasing an additional 443,767 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Texas Roadhouse by 9.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,011,630 shares of the restaurant operator’s stock worth $189,590,000 after purchasing an additional 89,632 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Stephens dropped their price target on Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Truist Financial reduced their price objective on Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, November 7th. The Goldman Sachs Group lowered their target price on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group restated a “buy” rating on shares of Texas Roadhouse in a research note on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.95.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $167.13 on Friday. The business’s fifty day moving average price is $169.25 and its 200 day moving average price is $177.33. The firm has a market capitalization of $11.06 billion, a PE ratio of 25.56, a P/E/G ratio of 2.75 and a beta of 0.88. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse’s dividend payout ratio (DPR) is 41.59%.

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.