Westfield Capital Management Co. LP Increases Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Westfield Capital Management Co. LP increased its stake in Texas Roadhouse, Inc. by 1.3%, owning approximately 1.06% of the company worth about $116.98 million after acquiring an additional 8,904 shares.
• Texas Roadhouse's latest quarterly earnings report showed $1.70 earnings per share, falling short of consensus estimates, while its revenue increased by 11.8% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, reflecting an annualized dividend yield of 1.5% and a payout ratio of 41.98%.

Westfield Capital Management Co. LP grew its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 702,048 shares of the restaurant operator's stock after acquiring an additional 8,904 shares during the quarter. Westfield Capital Management Co. LP owned about 1.06% of Texas Roadhouse worth $116,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TXRH. LPL Financial LLC raised its holdings in shares of Texas Roadhouse by 51.8% during the 4th quarter. LPL Financial LLC now owns 35,952 shares of the restaurant operator's stock valued at $6,467,000 after buying an additional 12,275 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Texas Roadhouse by 5.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,569 shares of the restaurant operator's stock valued at $1,005,000 after purchasing an additional 269 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Texas Roadhouse by 220.1% during the 4th quarter. National Bank of Canada FI now owns 1,210 shares of the restaurant operator's stock valued at $218,000 after purchasing an additional 832 shares during the last quarter. Geode Capital Management LLC lifted its stake in Texas Roadhouse by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator's stock worth $217,959,000 after purchasing an additional 6,004 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Texas Roadhouse by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 105,216 shares of the restaurant operator's stock valued at $18,984,000 after buying an additional 4,122 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $149,216.00. Following the completion of the transaction, the director directly owned 4,632 shares of the company's stock, valued at approximately $863,960.64. The trade was a 14.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 38,050 shares of the company's stock, valued at $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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TXRH. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Bank of America boosted their price target on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a report on Friday, July 18th. UBS Group lifted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Citigroup raised their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Finally, Stifel Nicolaus increased their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $196.85.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded up $2.16 during midday trading on Wednesday, reaching $184.39. 722,017 shares of the company traded hands, compared to its average volume of 742,147. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The business has a 50 day moving average of $188.27 and a two-hundred day moving average of $179.26.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period last year, the company earned $1.69 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

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.