Martin Capital Advisors LLP Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Martin Capital Advisors LLP purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,996 shares of the restaurant operator’s stock, valued at approximately $244,000.

Several other hedge funds also recently modified their holdings of TXRH. Avior Wealth Management LLC boosted its stake in Texas Roadhouse by 3.2% during the fourth quarter. Avior Wealth Management LLC now owns 3,579 shares of the restaurant operator’s stock valued at $437,000 after buying an additional 111 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Texas Roadhouse by 13.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,634 shares of the restaurant operator’s stock worth $2,033,000 after purchasing an additional 2,027 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Texas Roadhouse by 0.8% in the 4th quarter. Mackenzie Financial Corp now owns 121,629 shares of the restaurant operator’s stock worth $14,867,000 after purchasing an additional 998 shares in the last quarter. Strs Ohio lifted its stake in Texas Roadhouse by 16.2% during the fourth quarter. Strs Ohio now owns 55,181 shares of the restaurant operator’s stock valued at $6,744,000 after purchasing an additional 7,706 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in Texas Roadhouse during the fourth quarter worth approximately $2,298,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird raised Texas Roadhouse from a “neutral” rating to an “outperform” rating and upped their price target for the company from $160.00 to $175.00 in a report on Wednesday, March 13th. Wells Fargo & Company increased their price target on Texas Roadhouse from $125.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on Texas Roadhouse from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Stephens assumed coverage on shares of Texas Roadhouse in a research report on Friday, April 12th. They issued an “equal weight” rating and a $150.00 target price on the stock. Finally, Benchmark assumed coverage on shares of Texas Roadhouse in a report on Wednesday, April 10th. They set a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $136.05.

Texas Roadhouse Stock Up 0.2 %

TXRH stock traded up $0.27 during trading hours on Friday, hitting $150.73. The company’s stock had a trading volume of 653,321 shares, compared to its average volume of 787,730. The stock has a 50 day moving average price of $148.97 and a two-hundred day moving average price of $124.80. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $157.12. The company has a market capitalization of $10.07 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 1.64 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, February 15th. The restaurant operator reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. Texas Roadhouse had a net margin of 6.58% and a return on equity of 27.43%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts expect that Texas Roadhouse, Inc. will post 5.74 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 13th were issued a $0.61 dividend. This is a positive change from Texas Roadhouse’s previous quarterly dividend of $0.55. This represents a $2.44 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, March 12th. Texas Roadhouse’s payout ratio is 53.86%.

Insiders Place Their Bets

In other news, Director Curtis Warfield sold 2,365 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the transaction, the director now owns 13,397 shares of the company’s stock, valued at $1,991,865.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Donna E. Epps sold 670 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $149.97, for a total transaction of $100,479.90. Following the completion of the sale, the director now owns 4,142 shares in the company, valued at approximately $621,175.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Curtis Warfield sold 2,365 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the sale, the director now directly owns 13,397 shares in the company, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. Insiders sold 12,382 shares of company stock valued at $1,843,145 over the last 90 days. 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.