Victory Capital Management Inc. Buys 860,571 Shares of Texas Roadhouse, Inc. $TXRH

Victory Capital Management Inc. boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 770.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 972,251 shares of the restaurant operator’s stock after purchasing an additional 860,571 shares during the period. Victory Capital Management Inc. owned 1.46% of Texas Roadhouse worth $161,540,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Texas Roadhouse by 3.1% in the 2nd quarter. NewEdge Advisors LLC now owns 2,499 shares of the restaurant operator’s stock valued at $468,000 after buying an additional 76 shares during the last quarter. Salomon & Ludwin LLC raised its position in Texas Roadhouse by 37.2% during the third quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock worth $50,000 after acquiring an additional 81 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Texas Roadhouse by 4.4% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 87 shares during the last quarter. Invesco LLC grew its position in shares of Texas Roadhouse by 4.5% in the 3rd quarter. Invesco LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 89 shares during the period. Finally, Aviva PLC grew its position in shares of Texas Roadhouse by 4.2% in the 2nd quarter. Aviva PLC now owns 2,428 shares of the restaurant operator’s stock valued at $455,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TXRH shares. Stephens raised their target price on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 20th. Sanford C. Bernstein set a $185.00 price objective on Texas Roadhouse in a research report on Wednesday, January 7th. Citigroup reduced their target price on Texas Roadhouse from $190.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Wall Street Zen raised Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Mizuho raised their price target on Texas Roadhouse from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.55.

Texas Roadhouse Stock Up 0.6%

Shares of NASDAQ:TXRH opened at $181.23 on Wednesday. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99. The company’s 50 day moving average price is $182.23 and its two-hundred day moving average price is $173.68. The firm has a market cap of $11.99 billion, a PE ratio of 29.76, a PEG ratio of 1.95 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.25). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a net margin of 6.90% and a return on equity of 27.88%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. On average, research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.68. Texas Roadhouse’s dividend payout ratio (DPR) is 44.66%.

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $196.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief executive officer owned 91,774 shares of the company’s stock, valued at approximately $17,987,704. The trade was a 5.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hugh J. Carroll sold 1,000 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the sale, the director owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. This represents a 35.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 11,000 shares of company stock worth $2,082,920. Corporate insiders own 0.50% of the company’s stock.

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.