Texas Roadhouse, Inc. (NASDAQ:TXRH) Holdings Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 298,184 shares of the restaurant operator's stock after selling 88,262 shares during the period. Allianz Asset Management GmbH owned about 0.45% of Texas Roadhouse worth $49,686,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TXRH. Lindbrook Capital LLC increased its stake in Texas Roadhouse by 677.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,150 shares of the restaurant operator's stock worth $192,000 after buying an additional 1,002 shares during the period. South Dakota Investment Council increased its stake in Texas Roadhouse by 1.1% during the 1st quarter. South Dakota Investment Council now owns 18,764 shares of the restaurant operator's stock worth $3,127,000 after buying an additional 200 shares during the period. Private Advisor Group LLC increased its stake in Texas Roadhouse by 14.3% during the 1st quarter. Private Advisor Group LLC now owns 2,872 shares of the restaurant operator's stock worth $479,000 after buying an additional 360 shares during the period. Tributary Capital Management LLC purchased a new stake in Texas Roadhouse during the 1st quarter worth $329,000. Finally, Cullen Frost Bankers Inc. increased its stake in Texas Roadhouse by 941.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 625 shares of the restaurant operator's stock worth $104,000 after buying an additional 565 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Morgan Stanley lifted their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Melius assumed coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They set a "buy" rating and a $235.00 price target on the stock. Citigroup downgraded shares of Texas Roadhouse from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $213.00 to $164.00 in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Ten investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.95.

Insider Activity

In related 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 directly owned 4,632 shares in the company, valued at $863,960.64. This trade represents a 14.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory N. Moore sold 1,000 shares of Texas Roadhouse 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 sale, the director owned 38,050 shares in the company, valued at approximately $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH traded up $3.95 during midday trading on Friday, hitting $188.14. The company's stock had a trading volume of 651,034 shares, compared to its average volume of 780,092. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The firm's fifty day moving average price is $189.42 and its 200-day moving average price is $178.96. The firm has a market cap of $12.48 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.65 and a beta of 0.87.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly 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). Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm posted $1.69 earnings per share. The company's quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd were given a $0.68 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a yield of 1.45%. Texas Roadhouse's dividend 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.