Bessemer Group Inc. Boosts Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Bessemer Group Inc. grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 183,710 shares of the restaurant operator's stock after acquiring an additional 7,645 shares during the quarter. Bessemer Group Inc. owned about 0.28% of Texas Roadhouse worth $30,611,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TXRH. Norges Bank bought a new stake in Texas Roadhouse during the fourth quarter valued at approximately $155,239,000. Congress Asset Management Co. raised its position in shares of Texas Roadhouse by 8,956.4% during the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after buying an additional 460,537 shares in the last quarter. FMR LLC lifted its holdings in shares of Texas Roadhouse by 44.8% during the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock worth $234,737,000 after acquiring an additional 402,465 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Texas Roadhouse by 255.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock worth $93,888,000 after acquiring an additional 373,812 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Texas Roadhouse by 19,250.9% in the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after acquiring an additional 323,415 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on TXRH. Citigroup downgraded Texas Roadhouse from a "buy" rating to a "neutral" rating and lowered their price target for the company from $213.00 to $164.00 in a research report on Wednesday, April 23rd. Stephens reissued an "equal weight" rating and issued a $170.00 target price on shares of Texas Roadhouse in a research note on Tuesday, June 10th. Stifel Nicolaus reduced their price target on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Wedbush increased their price objective on Texas Roadhouse from $200.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Finally, Wells Fargo & Company cut their price objective on Texas Roadhouse from $175.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Texas Roadhouse presently has an average rating of "Moderate Buy" and a consensus price target of $191.71.

Texas Roadhouse Stock Up 0.2%

Shares of NASDAQ:TXRH traded up $0.30 during midday trading on Friday, reaching $185.33. The company's stock had a trading volume of 142,776 shares, compared to its average volume of 934,710. The firm has a 50 day moving average of $183.59 and a 200-day moving average of $178.57. The firm has a market capitalization of $12.29 billion, a P/E ratio of 28.68, a PEG ratio of 2.46 and a beta of 0.90. 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 posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm earned $1.69 EPS. The company's revenue was up 11.8% on a year-over-year basis. On average, research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd will be paid a $0.68 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $2.72 annualized dividend and a dividend yield of 1.47%. Texas Roadhouse's payout ratio is currently 41.98%.

Insider Activity at Texas Roadhouse

In other news, Director Donna E. Epps sold 800 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the transaction, the director now owns 4,632 shares in the company, valued at approximately $863,960.64. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gregory N. Moore sold 1,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were 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 in the company, valued at $7,138,941. This trade represents 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 owned by corporate insiders.

Texas Roadhouse Company 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.