Ranger Investment Management L.P. Has $55.10 Million Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Ranger Investment Management L.P. cut its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 305,384 shares of the restaurant operator’s stock after selling 5,900 shares during the quarter. Texas Roadhouse comprises 3.5% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 3rd biggest holding. Ranger Investment Management L.P.’s holdings in Texas Roadhouse were worth $55,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation N.A. lifted its holdings in shares of Texas Roadhouse by 19.5% during the fourth quarter. Zions Bancorporation N.A. now owns 13,152 shares of the restaurant operator’s stock valued at $2,373,000 after purchasing an additional 2,144 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Texas Roadhouse in the fourth quarter worth $2,959,000. Chase Investment Counsel Corp purchased a new position in shares of Texas Roadhouse in the 4th quarter worth about $316,000. Raymond James Financial Inc. bought a new position in Texas Roadhouse in the 4th quarter worth about $55,177,000. Finally, First Hawaiian Bank purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $1,554,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of TXRH opened at $153.22 on Wednesday. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Texas Roadhouse, Inc. has a 1 year low of $146.75 and a 1 year high of $206.04. The business’s 50 day simple moving average is $173.42 and its 200-day simple moving average is $181.46.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, February 20th. The restaurant operator reported $1.73 EPS for the quarter, beating the consensus estimate of $1.66 by $0.07. Texas Roadhouse had a net margin of 8.07% and a return on equity of 34.02%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.41 billion. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.78%. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.61. The ex-dividend date was Tuesday, March 18th. Texas Roadhouse’s dividend payout ratio (DPR) is presently 42.04%.

Analysts Set New Price Targets

TXRH has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Texas Roadhouse from $185.00 to $184.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Wedbush lifted 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. Stifel Nicolaus lowered their target price on shares of Texas Roadhouse from $185.00 to $172.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Stephens reduced their price objective on Texas Roadhouse from $186.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday, February 21st. Finally, Citigroup raised their target price on Texas Roadhouse from $212.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.23.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $168.26, for a total transaction of $454,302.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Curtis Warfield sold 3,281 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $183.67, for a total value of $602,621.27. Following the completion of the sale, the director now owns 6,801 shares in the company, valued at approximately $1,249,139.67. The trade was a 32.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,905 shares of company stock worth $3,198,367. 0.50% of the stock is currently owned by company insiders.

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.