Texas Roadhouse, Inc. (NASDAQ:TXRH) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. lifted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 8,956.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 465,679 shares of the restaurant operator's stock after buying an additional 460,537 shares during the quarter. Congress Asset Management Co. owned approximately 0.70% of Texas Roadhouse worth $77,596,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Stablepoint Partners LLC lifted its stake in shares of Texas Roadhouse by 1.9% during the 1st quarter. Stablepoint Partners LLC now owns 8,060 shares of the restaurant operator's stock valued at $1,343,000 after buying an additional 148 shares in the last quarter. Vest Financial LLC bought a new stake in Texas Roadhouse in the 1st quarter valued at $1,480,000. Lifestyle Asset Management Inc. increased its holdings in Texas Roadhouse by 15.1% in the 1st quarter. Lifestyle Asset Management Inc. now owns 1,845 shares of the restaurant operator's stock valued at $307,000 after acquiring an additional 242 shares during the last quarter. Threadgill Financial LLC increased its holdings in Texas Roadhouse by 3.5% in the 1st quarter. Threadgill Financial LLC now owns 5,272 shares of the restaurant operator's stock valued at $878,000 after acquiring an additional 176 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in Texas Roadhouse by 237.8% in the 1st quarter. Merit Financial Group LLC now owns 7,154 shares of the restaurant operator's stock valued at $1,192,000 after acquiring an additional 5,036 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TXRH. Stifel Nicolaus reduced their price target on shares of Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. UBS Group lifted their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday. Guggenheim reduced their price target on shares of Texas Roadhouse from $205.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Robert W. Baird set a $180.00 price target on shares of Texas Roadhouse and gave the company an "outperform" rating in a report on Monday, April 7th. Finally, Royal Bank of Canada reduced their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $192.19.

Insider Activity

In other news, Director Donna E. Epps sold 800 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the transaction, the director now directly owns 4,632 shares in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the transaction, the director now owns 38,050 shares in the company, valued at approximately $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Up 1.8%

NASDAQ:TXRH traded up $3.51 during midday trading on Friday, hitting $195.19. The stock had a trading volume of 539,035 shares, compared to its average volume of 915,491. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.23 and a beta of 0.90. The stock has a 50-day moving average of $175.78 and a 200 day moving average of $179.44.

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 (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $1.69 EPS. The firm's revenue for the quarter was up 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.39%. Texas Roadhouse's dividend payout ratio is presently 41.98%.

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.