Meeder Asset Management Inc. Buys 41,019 Shares of Texas Roadhouse, Inc. $TXRH

Meeder Asset Management Inc. raised its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 360.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,409 shares of the restaurant operator’s stock after acquiring an additional 41,019 shares during the period. Meeder Asset Management Inc. owned approximately 0.08% of Texas Roadhouse worth $8,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TXRH. NewEdge Advisors LLC boosted its stake in shares of Texas Roadhouse by 12.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after purchasing an additional 259 shares during the period. Focus Partners Wealth boosted its position in shares of Texas Roadhouse by 23.3% during the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after buying an additional 1,157 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Texas Roadhouse by 36.0% during the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after buying an additional 111 shares during the last quarter. Strs Ohio purchased a new stake in shares of Texas Roadhouse in the first quarter worth approximately $4,732,000. Finally, Kera Capital Partners Inc. bought a new stake in shares of Texas Roadhouse during the 2nd quarter worth approximately $258,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 1.4%

Shares of NASDAQ:TXRH opened at $183.15 on Monday. The company has a market capitalization of $12.12 billion, a PE ratio of 28.00, a P/E/G ratio of 2.87 and a beta of 0.89. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99. The business’s fifty day simple moving average is $169.71 and its 200-day simple moving average is $173.30.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data 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 analysts’ expectations of $1.43 billion. Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. Research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were given a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse’s payout ratio is presently 41.59%.

Insider Activity at Texas Roadhouse

In related news, Director Hugh J. Carroll sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the sale, the director owned 1,854 shares of the company’s stock, valued at $310,118.58. This represents a 35.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregory N. Moore sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total transaction of $238,000.00. Following the completion of the sale, the director owned 32,150 shares of the company’s stock, valued at approximately $5,465,500. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TXRH shares. Zacks Research upgraded Texas Roadhouse from a “strong sell” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada reduced their price target on shares of Texas Roadhouse from $185.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Wall Street Zen lowered shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Truist Financial upped their target price on shares of Texas Roadhouse from $195.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho raised shares of Texas Roadhouse to a “strong-buy” rating in a research report on Tuesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.00.

About Texas Roadhouse

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.