Congress Asset Management Co. MA grew its position in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,574,225 shares of the restaurant operator’s stock after purchasing an additional 44,480 shares during the period. Texas Roadhouse makes up about 1.2% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 27th largest position. Congress Asset Management Co. MA owned approximately 2.21% of Texas Roadhouse worth $82,930,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TXRH. Assenagon Asset Management S.A. bought a new stake in Texas Roadhouse in the fourth quarter valued at $3,820,000. SG Americas Securities LLC bought a new stake in Texas Roadhouse in the fourth quarter worth about $1,035,000. Cerebellum GP LLC bought a new stake in Texas Roadhouse in the fourth quarter worth about $122,000. Oakbrook Investments LLC bought a new stake in Texas Roadhouse in the fourth quarter worth about $253,000. Finally, Schwab Charles Investment Management Inc. raised its position in Texas Roadhouse by 17.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 505,391 shares of the restaurant operator’s stock worth $26,624,000 after acquiring an additional 76,301 shares in the last quarter. 85.14% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on TXRH shares. Jefferies Group raised Texas Roadhouse from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $41.00 to $50.00 in a research note on Saturday, December 30th. Zacks Investment Research cut Texas Roadhouse from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Maxim Group lifted their target price on Texas Roadhouse from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Barclays lowered their price target on Texas Roadhouse from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. Finally, Telsey Advisory Group boosted their price target on Texas Roadhouse from $54.00 to $58.00 and gave the company a “market perform” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.70.
Texas Roadhouse Inc (NASDAQ TXRH) traded up $0.09 during trading hours on Wednesday, reaching $56.48. The company’s stock had a trading volume of 476,100 shares, compared to its average volume of 676,866. Texas Roadhouse Inc has a 1 year low of $40.28 and a 1 year high of $60.43. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4,009.67, a price-to-earnings ratio of 33.35, a price-to-earnings-growth ratio of 1.92 and a beta of 0.59.
In other news, CEO Wayne Kent Taylor sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $51.09, for a total value of $10,218,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,908,231 shares of the company’s stock, valued at $199,671,521.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider S. Chris Jacobsen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $60.00, for a total value of $90,000.00. Following the completion of the sale, the insider now directly owns 16,899 shares of the company’s stock, valued at $1,013,940. The disclosure for this sale can be found here. Insiders sold 236,174 shares of company stock worth $12,261,138 in the last three months. Insiders own 6.60% of the company’s stock.
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About Texas Roadhouse
Texas Roadhouse, Inc is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks, all cooked over open grills and all but one hand cut daily on the premises. Its restaurants offer a range of menu items at prices that are designed to appeal to a range of consumer tastes.
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