Elevation Point Wealth Partners LLC Increases Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Elevation Point Wealth Partners LLC grew its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 132.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,575 shares of the restaurant operator's stock after acquiring an additional 3,181 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Texas Roadhouse were worth $929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Albert D Mason Inc. increased its holdings in shares of Texas Roadhouse by 4.2% in the 1st quarter. Albert D Mason Inc. now owns 4,060 shares of the restaurant operator's stock valued at $677,000 after acquiring an additional 162 shares during the period. NorthCrest Asset Manangement LLC purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at $262,000. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Texas Roadhouse by 11.7% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 118,390 shares of the restaurant operator's stock valued at $19,727,000 after acquiring an additional 12,367 shares during the period. Fifth Third Bancorp increased its holdings in shares of Texas Roadhouse by 344.7% in the 1st quarter. Fifth Third Bancorp now owns 2,317 shares of the restaurant operator's stock valued at $386,000 after acquiring an additional 1,796 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Texas Roadhouse by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 1,951 shares of the restaurant operator's stock valued at $325,000 after acquiring an additional 271 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wedbush boosted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their target price 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. Barclays dropped their target price on Texas Roadhouse from $179.00 to $175.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. UBS Group boosted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Stephens restated an "equal weight" rating and set a $170.00 target price on shares of Texas Roadhouse in a research note on Tuesday, June 10th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $191.71.

Insider Activity at Texas Roadhouse

In other news, Director Gregory N. Moore sold 1,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the transaction, the director now directly owns 38,050 shares in the company, valued at $7,138,941. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donna E. Epps sold 800 shares of Texas Roadhouse 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 sale, the director now directly owns 4,632 shares of the company's stock, valued at $863,960.64. This trade represents a 14.73% 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 Down 2.3%

Shares of TXRH stock opened at $182.29 on Friday. The stock has a market cap of $12.09 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.23 and a beta of 0.89. The business has a 50-day simple moving average of $178.45 and a 200-day simple moving average of $178.94. 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 issued 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). The company had revenue of $1.45 billion during 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%. The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $1.69 EPS. Sell-side analysts anticipate 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, July 1st. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.49%. Texas Roadhouse's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.