Oppenheimer Asset Management Inc. Acquires 6,662 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Oppenheimer Asset Management Inc. grew its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 45.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,246 shares of the restaurant operator's stock after buying an additional 6,662 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Texas Roadhouse were worth $3,540,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. KLP Kapitalforvaltning AS acquired a new stake in Texas Roadhouse during the 4th quarter valued at $2,959,000. Zions Bancorporation N.A. raised its holdings in Texas Roadhouse by 19.5% in the 4th quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator's stock valued at $2,373,000 after acquiring an additional 2,144 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Texas Roadhouse by 4.3% during the fourth quarter. Bessemer Group Inc. now owns 176,065 shares of the restaurant operator's stock worth $31,768,000 after acquiring an additional 7,301 shares during the period. Chase Investment Counsel Corp bought a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $316,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Texas Roadhouse in the fourth quarter valued at approximately $55,177,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TXRH shares. UBS Group lifted their price target on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Citigroup downgraded shares of Texas Roadhouse from a "buy" rating to a "neutral" rating and decreased their price target for the company from $213.00 to $164.00 in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group boosted their price objective on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, Stifel Nicolaus lowered their target price on shares of Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.71.

Insider Activity at Texas Roadhouse

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 sale, the director now 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory N. Moore sold 1,000 shares of the company's 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 completion of the transaction, the director now directly owns 38,050 shares of the company's stock, valued at approximately $7,138,941. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock traded up $1.24 during trading on Friday, reaching $186.27. 126,691 shares of the company's stock were exchanged, compared to its average volume of 934,471. The firm's 50-day moving average price is $183.59 and its 200 day moving average price is $178.57. The company has a market cap of $12.36 billion, a P/E ratio of 28.75, a PEG ratio of 2.46 and a beta of 0.90. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm's revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 EPS. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio is 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.