Logan Capital Management Inc. Has $12.11 Million Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Logan Capital Management Inc. increased its holdings in Texas Roadhouse by 6.3%, owning approximately $12.11 million worth of shares following the purchase of 4,285 additional shares.
• Recent insider sales included Director Gregory N. Moore selling 3,000 shares for $519,180, while CTO Hernan E. Mujica sold 2,189 shares for $377,383, indicating a decrease in their positions.
• Analysts have recently adjusted their price targets for Texas Roadhouse, with Citigroup setting a target of $197 and Bank of America raising it to $219, reflecting a consensus rating of "Moderate Buy".

Logan Capital Management Inc. grew its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,656 shares of the restaurant operator's stock after purchasing an additional 4,285 shares during the period. Logan Capital Management Inc. owned about 0.11% of Texas Roadhouse worth $12,107,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group increased its holdings in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after acquiring an additional 134 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter valued at about $33,000. WPG Advisers LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter valued at about $59,000. Park Place Capital Corp increased its holdings in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 303 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the sale, the director owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the sale, the chief technology officer directly owned 17,553 shares in the company, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TXRH. Citigroup increased their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Bank of America increased their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays increased their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Melius initiated coverage on Texas Roadhouse in a report on Monday, July 14th. They set a "buy" rating and a $235.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 14th. One equities 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $197.35.

Texas Roadhouse Stock Down 0.8%

TXRH opened at $167.48 on Tuesday. The firm has a market capitalization of $11.13 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. The stock's 50 day moving average price is $180.37 and its two-hundred day moving average price is $178.76. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04.

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). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $1.79 EPS. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Texas Roadhouse 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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