Marks Group Wealth Management Inc Has $7.99 Million Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Marks Group Wealth Management Inc lessened its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 0.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 65,346 shares of the restaurant operator’s stock after selling 284 shares during the quarter. Texas Roadhouse comprises approximately 0.9% of Marks Group Wealth Management Inc’s portfolio, making the stock its 26th largest holding. Marks Group Wealth Management Inc’s holdings in Texas Roadhouse were worth $7,987,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. boosted its position in Texas Roadhouse by 40.7% during the third quarter. Invesco Ltd. now owns 1,281,296 shares of the restaurant operator’s stock valued at $123,133,000 after purchasing an additional 370,627 shares during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Texas Roadhouse by 60.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,893 shares of the restaurant operator’s stock valued at $74,756,000 after acquiring an additional 294,425 shares during the period. California Public Employees Retirement System increased its stake in shares of Texas Roadhouse by 164.8% during the 3rd quarter. California Public Employees Retirement System now owns 362,059 shares of the restaurant operator’s stock worth $34,794,000 after purchasing an additional 225,338 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Texas Roadhouse by 26.3% in the 3rd quarter. Victory Capital Management Inc. now owns 985,795 shares of the restaurant operator’s stock valued at $94,735,000 after purchasing an additional 205,064 shares during the period. Finally, ING Groep NV acquired a new stake in Texas Roadhouse in the 3rd quarter valued at about $18,622,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

NASDAQ:TXRH traded up $2.33 during mid-day trading on Monday, reaching $153.06. The stock had a trading volume of 924,559 shares, compared to its average volume of 790,682. Texas Roadhouse, Inc. has a 12 month low of $91.06 and a 12 month high of $157.12. The stock has a market capitalization of $10.23 billion, a PE ratio of 33.79, a P/E/G ratio of 1.65 and a beta of 0.99. The stock has a 50-day simple moving average of $149.68 and a two-hundred day simple moving average of $125.97.

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

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 13th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Tuesday, March 12th. This is a boost from Texas Roadhouse’s previous quarterly dividend of $0.55. Texas Roadhouse’s payout ratio is currently 53.86%.

Insiders Place Their Bets

In related news, CEO Gerald L. Morgan sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $147.90, for a total transaction of $739,500.00. Following the completion of the transaction, the chief executive officer now directly owns 92,847 shares in the company, valued at approximately $13,732,071.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Gerald L. Morgan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $147.90, for a total transaction of $739,500.00. Following the sale, the chief executive officer now owns 92,847 shares of the company’s stock, valued at approximately $13,732,071.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Curtis Warfield sold 2,365 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $148.68, for a total value of $351,628.20. Following the completion of the transaction, the director now directly owns 13,397 shares of the company’s stock, valued at approximately $1,991,865.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,382 shares of company stock valued at $1,843,145. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TXRH has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Jefferies Financial Group upped their price objective on shares of Texas Roadhouse from $120.00 to $136.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Northcoast Research lowered shares of Texas Roadhouse from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 20th. Stephens started coverage on Texas Roadhouse in a report on Friday, April 12th. They set an “equal weight” rating and a $150.00 price objective for the company. Finally, Wells Fargo & Company lifted their price target on Texas Roadhouse from $125.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $136.05.

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.