Wellington Management Group LLP Boosts Position in Texas Roadhouse, Inc. $TXRH

Wellington Management Group LLP grew its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,541,791 shares of the restaurant operator’s stock after acquiring an additional 119,803 shares during the period. Wellington Management Group LLP owned 2.35% of Texas Roadhouse worth $297,920,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Kingsview Wealth Management LLC bought a new position in shares of Texas Roadhouse during the second quarter worth $368,000. Glenview Trust Co bought a new position in Texas Roadhouse in the second quarter worth approximately $9,163,000. United Capital Financial Advisors LLC purchased a new position in Texas Roadhouse during the 2nd quarter valued at about $394,000. Grandeur Peak Global Advisors LLC bought a new position in Texas Roadhouse in the second quarter worth approximately $260,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Texas Roadhouse in the 2nd quarter worth $4,095,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets increased their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Stifel Nicolaus raised their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $212.00 price target on shares of Texas Roadhouse in a research note on Friday, August 7th. Robert W. Baird upgraded shares of Texas Roadhouse to a “strong-buy” rating in a report on Monday, August 24th. Finally, Wells Fargo & Company upped their price objective on shares of Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.48.

Insiders Place Their Bets

In other news, insider Lloyd Paul Marshall sold 500 shares of Texas Roadhouse stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the transaction, the insider owned 9,826 shares of the company’s stock, valued at $2,010,890.90. The trade was a 4.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Hugh J. Carroll sold 650 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at $588,103.17. This trade represents a 18.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 20,396 shares of company stock valued at $4,143,825. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Texas Roadhouse stock opened at $198.99 on Monday. The company has a market capitalization of $13.06 billion, a P/E ratio of 31.84, a PEG ratio of 1.97 and a beta of 0.79. The stock has a 50-day simple moving average of $198.20 and a 200-day simple moving average of $180.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company posted $1.86 EPS. Texas Roadhouse’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s payout ratio is 48.00%.

Texas Roadhouse Company Profile

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.