Edmonds Duncan Registered Investment Advisors LLC Purchases Shares of 1,771 Texas Roadhouse, Inc. (NASDAQ:TXRH)

Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,771 shares of the restaurant operator’s stock, valued at approximately $274,000.

Several other institutional investors have also made changes to their positions in the business. Norges Bank bought a new position in shares of Texas Roadhouse during the fourth quarter valued at $78,544,000. Balyasny Asset Management L.P. lifted its holdings in Texas Roadhouse by 4,150.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after purchasing an additional 441,069 shares during the last quarter. Armistice Capital LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at about $28,724,000. Bank of Nova Scotia grew its stake in Texas Roadhouse by 5,135.0% during the fourth quarter. Bank of Nova Scotia now owns 222,538 shares of the restaurant operator’s stock worth $27,200,000 after buying an additional 218,287 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Texas Roadhouse by 2,985.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,471 shares of the restaurant operator’s stock worth $25,481,000 after buying an additional 201,714 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the sale, the chief executive officer now owns 77,847 shares in the company, valued at approximately $13,366,329.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Texas Roadhouse news, Director Curtis Warfield sold 1,025 shares of Texas Roadhouse stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $165.82, for a total transaction of $169,965.50. Following the completion of the transaction, the director now directly owns 12,372 shares of the company’s stock, valued at $2,051,525.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $171.70, for a total transaction of $2,575,500.00. Following the sale, the chief executive officer now owns 77,847 shares of the company’s stock, valued at approximately $13,366,329.90. The disclosure for this sale can be found here. Insiders sold 19,025 shares of company stock worth $3,251,266 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock traded down $2.22 during midday trading on Tuesday, reaching $168.14. The stock had a trading volume of 169,279 shares, compared to its average volume of 797,294. The stock has a market capitalization of $11.23 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The firm’s fifty day simple moving average is $167.45 and its 200-day simple moving average is $147.94. Texas Roadhouse, Inc. has a 1-year low of $91.06 and a 1-year high of $175.72.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.04. Texas Roadhouse had a net margin of 6.94% and a return on equity of 28.85%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $1.28 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.02 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Wednesday, June 12th were paid a dividend of $0.61 per share. The ex-dividend date was Wednesday, June 12th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.45%. Texas Roadhouse’s dividend payout ratio is 49.39%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TXRH shares. Evercore ISI raised their price target on Texas Roadhouse from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley boosted their target price on Texas Roadhouse from $145.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Wedbush raised their price target on Texas Roadhouse from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Texas Roadhouse from $165.00 to $175.00 and gave the stock a “sector perform” rating in a report on Friday, June 7th. Finally, BMO Capital Markets upped their target price on shares of Texas Roadhouse from $130.00 to $145.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Thirteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $157.86.

Texas Roadhouse Company 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.