Congress Asset Management Co. Sells 50,224 Shares of Texas Roadhouse, Inc. $TXRH

Congress Asset Management Co. reduced its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 10.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 415,455 shares of the restaurant operator's stock after selling 50,224 shares during the period. Congress Asset Management Co. owned 0.63% of Texas Roadhouse worth $77,860,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TXRH. Axiom Investors LLC DE lifted its stake in Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after buying an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after buying an additional 1,089,256 shares during the period. AQR Capital Management LLC increased its stake in shares of Texas Roadhouse by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock valued at $209,840,000 after acquiring an additional 443,767 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Texas Roadhouse by 19,250.9% in the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after acquiring an additional 323,415 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Texas Roadhouse in the 1st quarter valued at approximately $36,208,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 2,189 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer directly owned 17,553 shares of the company's stock, valued at $3,026,137.20. This trade represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director owned 34,550 shares in the company, valued at $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Guggenheim restated a "buy" rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 16th. Stifel Nicolaus boosted their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a report on Friday, July 25th. Bank of America upped their price objective on shares of Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Evercore ISI downgraded Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 price objective on the stock. in a research note on Thursday, September 4th. Finally, Melius Research raised Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Stock Up 0.8%

Shares of NASDAQ:TXRH opened at $163.01 on Friday. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.21 and a beta of 0.84. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The company's fifty day simple moving average is $174.23 and its 200 day simple moving average is $177.34.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $1.79 EPS. Texas Roadhouse's revenue for the quarter was up 12.7% on a year-over-year basis. Research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

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.

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