Concentric Capital Strategies LP Takes $4.82 Million Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Concentric Capital Strategies LP bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,317 shares of the restaurant operator’s stock, valued at approximately $4,824,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC lifted its stake in shares of Texas Roadhouse by 3.1% in the third quarter. Kingsview Wealth Management LLC now owns 1,771 shares of the restaurant operator’s stock worth $313,000 after buying an additional 54 shares during the last quarter. CIBC Asset Management Inc lifted its position in Texas Roadhouse by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,952 shares of the restaurant operator’s stock worth $345,000 after acquiring an additional 62 shares during the last quarter. Insight Wealth Partners LLC lifted its position in Texas Roadhouse by 3.9% during the 3rd quarter. Insight Wealth Partners LLC now owns 1,818 shares of the restaurant operator’s stock worth $321,000 after acquiring an additional 68 shares during the last quarter. PSI Advisors LLC boosted its holdings in Texas Roadhouse by 70.8% during the third quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 75 shares during the period. Finally, Angeles Wealth Management LLC grew its position in shares of Texas Roadhouse by 5.4% in the third quarter. Angeles Wealth Management LLC now owns 1,469 shares of the restaurant operator’s stock valued at $259,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 94.82% of the company’s stock.

Insider Transactions at Texas Roadhouse

In related news, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $195.66, for a total transaction of $119,352.60. Following the transaction, the director now owns 3,532 shares in the company, valued at $691,071.12. This represents a 14.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the sale, the chief technology officer now owns 16,342 shares of the company’s stock, valued at $3,305,332.92. The trade was a 8.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Up 0.9 %

Shares of TXRH stock opened at $205.27 on Monday. The company has a market capitalization of $13.69 billion, a P/E ratio of 35.27, a P/E/G ratio of 1.75 and a beta of 0.98. Texas Roadhouse, Inc. has a 12-month low of $110.88 and a 12-month high of $206.04. The firm has a 50-day moving average price of $187.19 and a 200 day moving average price of $175.18.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. As a group, research analysts expect that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, December 10th. Texas Roadhouse’s payout ratio is presently 41.92%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TXRH. Bank of America raised their target price on Texas Roadhouse from $206.00 to $234.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Wedbush raised their price objective on shares of Texas Roadhouse from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird upped their target price on shares of Texas Roadhouse from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Evercore ISI increased their price target on shares of Texas Roadhouse from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Guggenheim upped their price objective on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $189.00.

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.