NorthCrest Asset Manangement LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

NorthCrest Asset Manangement LLC purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,570 shares of the restaurant operator's stock, valued at approximately $262,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC increased its stake in shares of Texas Roadhouse by 2.7% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,159 shares of the restaurant operator's stock valued at $390,000 after buying an additional 56 shares during the period. Coppell Advisory Solutions LLC grew 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 acquiring an additional 71 shares in the last quarter. Trek Financial LLC increased 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 during the period. Bridge City Capital LLC raised its holdings in shares of Texas Roadhouse by 1.0% in 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, Yousif Capital Management LLC raised its holdings in shares of Texas Roadhouse by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 16,730 shares of the restaurant operator's stock valued at $2,788,000 after purchasing an additional 92 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

TXRH has been the topic of several research reports. Stephens reissued an "equal weight" rating and set a $170.00 price objective on shares of Texas Roadhouse in a report on Tuesday, June 10th. Robert W. Baird set a $180.00 price target on Texas Roadhouse and gave the company an "outperform" rating in a report on Monday, April 7th. Barclays reduced their price target on Texas Roadhouse from $179.00 to $175.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. UBS Group raised their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Wedbush boosted their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.71.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Donna E. Epps sold 800 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the transaction, the director now owns 4,632 shares of the company's stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Up 5.8%

Shares of NASDAQ:TXRH traded up $10.59 during midday trading on Monday, reaching $192.88. The company's stock had a trading volume of 1,902,189 shares, compared to its average volume of 921,366. The stock has a fifty day moving average of $178.45 and a 200 day moving average of $178.77. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The firm has a market capitalization of $12.80 billion, a PE ratio of 29.81, a P/E/G ratio of 1.23 and a beta of 0.90.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the previous year, the business posted $1.69 EPS. The business's quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, June 3rd. Texas Roadhouse's payout ratio is presently 41.98%.

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.