Legacy Wealth Asset Management LLC Grows Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Legacy Wealth Asset Management LLC grew its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 76.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,568 shares of the restaurant operator's stock after purchasing an additional 2,417 shares during the quarter. Legacy Wealth Asset Management LLC's holdings in Texas Roadhouse were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $2,959,000. Zions Bancorporation N.A. raised its position in Texas Roadhouse by 19.5% during the 4th quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock worth $2,373,000 after buying an additional 2,144 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Texas Roadhouse by 4.3% in the 4th quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator's stock worth $31,768,000 after acquiring an additional 7,301 shares during the period. Chase Investment Counsel Corp acquired a new stake in shares of Texas Roadhouse in the 4th quarter worth $316,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Texas Roadhouse in the fourth quarter valued at about $55,177,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TXRH. UBS Group reduced their price objective on shares of Texas Roadhouse from $210.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Robert W. Baird set a $180.00 price objective on Texas Roadhouse and gave the stock an "outperform" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Stifel Nicolaus lowered their price target on shares of Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Finally, Stephens reduced their price objective on shares of Texas Roadhouse from $186.00 to $180.00 and set an "equal weight" rating for the company in a research note on Friday, February 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus target price of $191.62.

Texas Roadhouse Price Performance

TXRH stock traded up $1.25 on Tuesday, hitting $195.92. 653,508 shares of the company were exchanged, compared to its average volume of 915,857. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.23 and a beta of 0.87. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The business's fifty day moving average is $173.85 and its two-hundred day moving average is $179.23.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations 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 was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $1.69 EPS. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, June 3rd. This represents a $2.72 annualized dividend and a yield of 1.39%. Texas Roadhouse's payout ratio is 41.98%.

Insider Buying and Selling at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,154 shares of Texas Roadhouse stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $185.64, for a total transaction of $585,508.56. Following the transaction, the president now owns 18,414 shares in the company, valued at approximately $3,418,374.96. The trade was a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donna E. Epps sold 800 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the transaction, the director now directly owns 4,632 shares in the company, 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 have sold a total of 4,954 shares of company stock valued at $922,345 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

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.