Cetera Investment Advisers Buys 3,280 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Cetera Investment Advisers increased its holdings in Texas Roadhouse by 53.3%, bringing its total position to $1.57 million during the first quarter.
• Other institutional investors also significantly increased their stakes, with Congress Asset Management Co. boosting its position by 8,956.4% during the same period.
• Texas Roadhouse recently announced a quarterly dividend of $0.68 per share, with a dividend yield of 1.6%, set to be paid on September 30th.

Cetera Investment Advisers boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 53.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,439 shares of the restaurant operator's stock after acquiring an additional 3,280 shares during the period. Cetera Investment Advisers' holdings in Texas Roadhouse were worth $1,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its position in shares of Texas Roadhouse by 44.8% during the fourth 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. Northern Trust Corp increased its position in shares of Texas Roadhouse by 22.7% during the fourth quarter. Northern Trust Corp now owns 594,406 shares of the restaurant operator's stock valued at $107,249,000 after buying an additional 110,128 shares during the period. Ameriprise Financial Inc. increased its position in shares of Texas Roadhouse by 4.5% during the fourth quarter. Ameriprise Financial Inc. now owns 541,204 shares of the restaurant operator's stock valued at $97,649,000 after buying an additional 23,157 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Texas Roadhouse by 255.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after buying an additional 373,812 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Texas Roadhouse by 55.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 465,819 shares of the restaurant operator's stock valued at $84,048,000 after buying an additional 165,762 shares during the period. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Up 1.1%

Shares of NASDAQ:TXRH traded up $1.85 during trading on Tuesday, reaching $176.71. 1,108,913 shares of the company traded hands, compared to its average volume of 958,723. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.46 and a beta of 0.86. The business's fifty day moving average is $186.83 and its 200-day moving average is $179.19. 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 earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $1.79 EPS. Texas Roadhouse's revenue was up 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 800 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the transaction, the director directly owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TXRH shares. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Bank of America boosted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Wells Fargo & Company cut their price objective on Texas Roadhouse from $175.00 to $170.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Stephens upped their target price on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $197.85.

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.