Bayesian Capital Management LP Decreases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bayesian Capital Management LP lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,300 shares of the restaurant operator's stock after selling 4,730 shares during the quarter. Bayesian Capital Management LP's holdings in Texas Roadhouse were worth $956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Texas Roadhouse by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,540,615 shares of the restaurant operator's stock worth $1,180,123,000 after purchasing an additional 76,051 shares in the last quarter. Invesco Ltd. grew its stake in Texas Roadhouse by 5.9% during the fourth quarter. Invesco Ltd. now owns 2,479,323 shares of the restaurant operator's stock worth $447,344,000 after buying an additional 138,675 shares in the last quarter. FMR LLC increased its holdings in Texas Roadhouse by 44.8% in the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after buying an additional 402,465 shares during the period. Geode Capital Management LLC raised its position in shares of Texas Roadhouse by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator's stock valued at $217,959,000 after buying an additional 6,004 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Texas Roadhouse by 14.4% during the 3rd quarter. Barclays PLC now owns 1,180,842 shares of the restaurant operator's stock worth $208,539,000 after acquiring an additional 148,462 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXRH has been the subject of several research analyst reports. Guggenheim lowered their price objective on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. UBS Group dropped their price objective on Texas Roadhouse from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Barclays decreased their target price on Texas Roadhouse from $179.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Friday. Robert W. Baird set a $180.00 target price on shares of Texas Roadhouse and gave the stock an "outperform" rating in a report on Monday, April 7th. Finally, Morgan Stanley raised shares of Texas Roadhouse from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $205.00 to $213.00 in a report on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Texas Roadhouse currently has an average rating of "Moderate Buy" and a consensus price target of $191.62.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $8.26 on Friday, reaching $180.81. 2,106,722 shares of the company's stock were exchanged, compared to its average volume of 888,736. The firm's 50-day moving average is $168.25 and its two-hundred day moving average is $179.39. The company has a market capitalization of $12.02 billion, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.05). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. Texas Roadhouse's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 EPS. On average, analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio is currently 42.04%.

Insiders Place Their Bets

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,050 shares of Texas Roadhouse stock in a transaction on Monday, February 24th. The shares were sold at an average price of $170.66, for a total transaction of $349,853.00. Following the transaction, the chief technology officer now directly owns 17,162 shares of the company's stock, valued at $2,928,866.92. The trade was a 10.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Regina A. Tobin sold 3,154 shares of the stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,535 shares of company stock worth $2,952,507. Insiders own 0.50% of the company's stock.

Texas Roadhouse Company Profile

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.