Adage Capital Partners GP L.L.C. Decreases Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 70.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,407 shares of the restaurant operator's stock after selling 161,593 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.10% of Texas Roadhouse worth $11,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in shares of Texas Roadhouse by 14.4% in the third quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator's stock valued at $208,539,000 after purchasing an additional 148,462 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Texas Roadhouse in the 3rd quarter valued at $1,282,000. Synovus Financial Corp increased its stake in Texas Roadhouse by 4.8% in the 3rd quarter. Synovus Financial Corp now owns 6,711 shares of the restaurant operator's stock valued at $1,185,000 after buying an additional 305 shares during the period. Franklin Resources Inc. raised its position in Texas Roadhouse by 76.0% during the 3rd quarter. Franklin Resources Inc. now owns 893,925 shares of the restaurant operator's stock worth $157,375,000 after buying an additional 385,998 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Texas Roadhouse in the 3rd quarter worth $245,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Analyst Ratings Changes

TXRH has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target 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 Tuesday, April 22nd. Gordon Haskett downgraded Texas Roadhouse from a "buy" rating to a "hold" rating and set a $192.00 target price for the company. in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Stifel Nicolaus cut their price objective on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada decreased their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating on the stock in a research report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.29.

Texas Roadhouse Stock Up 0.5 %

Shares of TXRH traded up $0.78 on Thursday, hitting $166.74. 820,290 shares of the stock traded hands, compared to its average volume of 884,377. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The stock's 50 day moving average is $169.15 and its two-hundred day moving average is $179.82. The firm has a market capitalization of $11.08 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.23 and a beta of 0.88.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The restaurant operator reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.07. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. Research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th were issued a $0.68 dividend. This is a boost from Texas Roadhouse's previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $2.72 annualized dividend and a yield of 1.63%. Texas Roadhouse's payout ratio is 42.04%.

Insider Activity

In related news, President Regina A. Tobin sold 3,154 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the completion of the transaction, the president now owns 18,414 shares of the company's stock, valued at approximately $3,418,374.96. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 3,281 shares of Texas Roadhouse stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $183.67, for a total transaction of $602,621.27. Following the completion of the transaction, the director now owns 6,801 shares in the company, valued at approximately $1,249,139.67. This trade represents a 32.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,535 shares of company stock valued at $2,952,507 in the last 90 days. 0.50% of the stock is currently owned by insiders.

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.