Meeder Asset Management Inc. Decreases Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Meeder Asset Management sharply reduced its Texas Roadhouse stake by 87.3% in the first quarter, selling 42,552 shares and leaving 6,206 shares worth about $1.0 million.
• Several analysts remain constructive on TXRH, with recent price targets ranging as high as $220; however, the overall consensus is still Hold with a target of $194.90.
• Texas Roadhouse reported better-than-expected EPS of $1.87 on May 7 and recently paid a $0.75 quarterly dividend, equal to a 1.5% annualized yield.

Meeder Asset Management Inc. decreased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 87.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,206 shares of the restaurant operator's stock after selling 42,552 shares during the quarter. Meeder Asset Management Inc.'s holdings in Texas Roadhouse were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TXRH. Evergreen Capital Management LLC grew its position in Texas Roadhouse by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator's stock valued at $605,000 after acquiring an additional 60 shares during the last quarter. &PARTNERS lifted its holdings in shares of Texas Roadhouse by 3.5% in the 4th quarter. &PARTNERS now owns 1,820 shares of the restaurant operator's stock worth $302,000 after acquiring an additional 61 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Texas Roadhouse by 11.6% in the 4th quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator's stock worth $107,000 after acquiring an additional 67 shares during the last quarter. Beacon Investment Advisors LLC lifted its holdings in shares of Texas Roadhouse by 1.4% in the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator's stock worth $886,000 after acquiring an additional 72 shares during the last quarter. Finally, Compound Planning Inc. boosted its stake in shares of Texas Roadhouse by 5.6% in the 4th quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator's stock valued at $234,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 94.82% of the company's stock.

Insider Activity

In related news, insider Christopher C. Colson sold 499 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the transaction, the insider directly owned 14,500 shares of the company's stock, valued at $2,598,690. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jane Grote Abell sold 339 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $177.43, for a total transaction of $60,148.77. Following the completion of the sale, the director owned 2,161 shares of the company's stock, valued at $383,426.23. This trade represents a 13.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 6,154 shares of company stock worth $1,115,864. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TXRH. Wall Street Zen upgraded shares of Texas Roadhouse from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Guggenheim restated a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. TD Cowen upped their price target on shares of Texas Roadhouse from $192.00 to $205.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Wells Fargo & Company raised their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Citigroup decreased their price objective on Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $194.90.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $196.26 on Tuesday. The business has a 50 day moving average of $180.80 and a 200 day moving average of $176.73. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $200.11. The company has a market cap of $12.90 billion, a PE ratio of 31.35, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 earnings per share. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.44 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse's payout ratio is presently 47.92%.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.