Meeder Asset Management Inc. Sells 30,797 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Meeder Asset Management Inc. reduced its stake in Texas Roadhouse by 71.5%, selling 30,797 shares and leaving it with 12,276 shares worth approximately $2.05 million.
• Institutional ownership of Texas Roadhouse is high, with 94.82% of the company's stock held by institutional investors, highlighting strong market confidence.
• Texas Roadhouse's stock received several target price increases from analysts, with Bank of America raising its target to $219.00 and Melius setting a target at $235.00, indicating positive expectations for future performance.

Meeder Asset Management Inc. cut its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 71.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,276 shares of the restaurant operator's stock after selling 30,797 shares during the period. Meeder Asset Management Inc.'s holdings in Texas Roadhouse were worth $2,046,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in Texas Roadhouse during the 1st quarter worth approximately $33,000. Coppell Advisory Solutions LLC lifted its stake in shares of Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after acquiring an additional 71 shares during the period. Park Place Capital Corp increased its position in 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 purchasing an additional 303 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of Texas Roadhouse by 41.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after buying an additional 112 shares during the period. Finally, Versant Capital Management Inc raised its stake in Texas Roadhouse by 153.9% during the first quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator's stock worth $76,000 after buying an additional 277 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded down $1.89 during mid-day trading on Friday, hitting $183.24. 683,354 shares of the stock were exchanged, compared to its average volume of 1,102,089. The company has a market capitalization of $12.16 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.64 and a beta of 0.87. The company has a 50-day simple moving average of $189.10 and a 200 day simple moving average of $179.13. 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 issued its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $1.69 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. Analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 3rd. Texas Roadhouse's payout ratio is 41.98%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, Director Donna E. Epps sold 800 shares of Texas Roadhouse 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 sale, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. The trade was a 14.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory N. Moore sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the transaction, the director owned 38,050 shares in the company, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TXRH has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the company a "buy" rating in a report on Wednesday, July 2nd. Stephens reissued an "equal weight" rating and set a $170.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, June 10th. Finally, Stifel Nicolaus boosted their target price on Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $196.85.

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.