Lord Abbett & CO. LLC Buys New Holdings in Texas Roadhouse, Inc. (TXRH)

Lord Abbett & CO. LLC bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 743,250 shares of the restaurant operator’s stock, valued at approximately $37,869,000. Lord Abbett & CO. LLC owned approximately 1.05% of Texas Roadhouse at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TXRH. BlackRock Inc. increased its holdings in shares of Texas Roadhouse by 1.2% in the second quarter. BlackRock Inc. now owns 6,619,255 shares of the restaurant operator’s stock valued at $337,251,000 after buying an additional 76,918 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Texas Roadhouse by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,195,450 shares of the restaurant operator’s stock valued at $264,708,000 after buying an additional 91,825 shares in the last quarter. State Street Corp increased its holdings in shares of Texas Roadhouse by 5.1% in the second quarter. State Street Corp now owns 2,221,004 shares of the restaurant operator’s stock valued at $113,158,000 after buying an additional 108,401 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Texas Roadhouse by 332.4% in the second quarter. Janus Henderson Group PLC now owns 1,967,343 shares of the restaurant operator’s stock valued at $100,236,000 after buying an additional 1,512,352 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Texas Roadhouse by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,651,685 shares of the restaurant operator’s stock valued at $84,154,000 after buying an additional 24,577 shares in the last quarter. 85.97% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse, Inc. (TXRH) opened at 50.36 on Friday. Texas Roadhouse, Inc. has a 12-month low of $38.54 and a 12-month high of $51.91. The stock’s 50 day moving average is $48.71 and its 200 day moving average is $48.68. The stock has a market capitalization of $3.58 billion, a PE ratio of 30.32 and a beta of 0.57.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Monday, July 31st. The restaurant operator reported $0.53 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $566.30 million for the quarter, compared to analyst estimates of $563.23 million. Texas Roadhouse had a net margin of 5.63% and a return on equity of 16.49%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. Analysts forecast that Texas Roadhouse, Inc. will post $1.93 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Wednesday, September 13th were issued a $0.21 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $0.84 annualized dividend and a yield of 1.67%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 50.60%.

In other news, insider S. Chris Jacobsen sold 2,500 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $49.25, for a total transaction of $123,125.00. Following the completion of the sale, the insider now owns 15,184 shares of the company’s stock, valued at $747,812. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathy Widmer sold 2,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $47.95, for a total transaction of $95,900.00. Following the sale, the director now directly owns 11,750 shares of the company’s stock, valued at approximately $563,412.50. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Several research firms have issued reports on TXRH. Robert W. Baird reaffirmed a “buy” rating and issued a $56.00 price target on shares of Texas Roadhouse in a report on Friday. Barclays PLC upped their price target on Texas Roadhouse from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Maxim Group reaffirmed a “buy” rating and issued a $55.00 price target on shares of Texas Roadhouse in a report on Friday. BidaskClub raised Texas Roadhouse from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Finally, Zacks Investment Research cut Texas Roadhouse from a “hold” rating to a “sell” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.74.

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Texas Roadhouse Company Profile

Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.

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Institutional Ownership by Quarter for Texas Roadhouse (NASDAQ:TXRH)

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