Merit Financial Group LLC Raises Stock Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Merit Financial Group LLC lifted its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 237.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,154 shares of the restaurant operator's stock after buying an additional 5,036 shares during the quarter. Merit Financial Group LLC's holdings in Texas Roadhouse were worth $1,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Investment Partners LLC raised its holdings in shares of Texas Roadhouse by 2.7% in the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock worth $390,000 after buying an additional 56 shares during the period. Coppell Advisory Solutions LLC increased its holdings in Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 71 shares during the period. Trek Financial LLC raised its position in Texas Roadhouse by 5.9% during the 4th quarter. Trek Financial LLC now owns 1,407 shares of the restaurant operator's stock valued at $254,000 after purchasing an additional 79 shares in the last quarter. Bridge City Capital LLC raised its position in Texas Roadhouse by 1.0% during the 4th quarter. Bridge City Capital LLC now owns 9,326 shares of the restaurant operator's stock valued at $1,683,000 after purchasing an additional 88 shares in the last quarter. Finally, Quarry LP raised its position in Texas Roadhouse by 18.7% during the 4th quarter. Quarry LP now owns 597 shares of the restaurant operator's stock valued at $108,000 after purchasing an additional 94 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $195.19 on Friday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The stock's fifty day moving average price is $175.78 and its 200 day moving average price is $179.34. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.23 and a beta of 0.90.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 34.02% and a net margin of 8.07%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter last year, the firm earned $1.69 earnings per share. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $2.72 annualized dividend and a yield of 1.39%. Texas Roadhouse's dividend payout ratio (DPR) is 41.98%.

Analyst Ratings Changes

A number of brokerages have weighed in on TXRH. Royal Bank of Canada decreased their target price on Texas Roadhouse from $200.00 to $180.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. The Goldman Sachs Group lifted their target price on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday. Wedbush lifted their target price on Texas Roadhouse from $200.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Stifel Nicolaus decreased their target price on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group lifted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $192.19.

Insider Buying and Selling

In related news, Director Donna E. Epps sold 800 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the transaction, the director now directly owns 4,632 shares in the company, valued at $863,960.64. The trade was a 14.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total value of $187,620.00. Following the sale, the director now directly owns 38,050 shares of the company's stock, valued at approximately $7,138,941. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding TXRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report).

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.