Martingale Asset Management L P Lowers Position in Texas Roadhouse Inc (TXRH)

Martingale Asset Management L P trimmed its position in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 102,322 shares of the restaurant operator’s stock after selling 1,100 shares during the quarter. Martingale Asset Management L P’s holdings in Texas Roadhouse were worth $7,090,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Impact Advisors LLC grew its stake in shares of Texas Roadhouse by 4.6% in the 3rd quarter. Capital Impact Advisors LLC now owns 36,129 shares of the restaurant operator’s stock valued at $2,500,000 after purchasing an additional 1,605 shares during the period. Carillon Tower Advisers Inc. grew its stake in shares of Texas Roadhouse by 31.1% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 179,844 shares of the restaurant operator’s stock valued at $11,782,000 after purchasing an additional 42,700 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Texas Roadhouse by 4.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 124,672 shares of the restaurant operator’s stock valued at $8,167,000 after purchasing an additional 5,372 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Texas Roadhouse by 1.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 507,747 shares of the restaurant operator’s stock valued at $33,263,000 after purchasing an additional 5,233 shares during the period. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Texas Roadhouse in the 2nd quarter valued at approximately $435,000. Hedge funds and other institutional investors own 88.93% of the company’s stock.

In other Texas Roadhouse news, Director James F. Parker sold 4,250 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $62.21, for a total transaction of $264,392.50. Following the transaction, the director now owns 87,810 shares of the company’s stock, valued at approximately $5,462,660.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider S. Chris Jacobsen sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $70.00, for a total value of $105,000.00. Following the transaction, the insider now directly owns 15,033 shares in the company, valued at approximately $1,052,310. The disclosure for this sale can be found here. Insiders sold a total of 17,250 shares of company stock worth $1,169,393 over the last three months. 5.89% of the stock is owned by company insiders.

Shares of TXRH opened at $64.48 on Friday. The company has a market capitalization of $4.59 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. Texas Roadhouse Inc has a one year low of $47.86 and a one year high of $75.24.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Monday, October 29th. The restaurant operator reported $0.40 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.14). The business had revenue of $594.60 million during the quarter, compared to analyst estimates of $594.16 million. Texas Roadhouse had a return on equity of 17.39% and a net margin of 6.53%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Research analysts anticipate that Texas Roadhouse Inc will post 2.19 earnings per share for the current fiscal year.

Several research firms have recently weighed in on TXRH. Wells Fargo & Co lowered their price objective on Texas Roadhouse from $63.00 to $61.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 31st. BMO Capital Markets lowered their price objective on Texas Roadhouse from $64.00 to $62.00 and set a “hold” rating on the stock in a research note on Tuesday, July 31st. Stephens lowered Texas Roadhouse from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $75.00 to $70.00 in a research note on Wednesday, September 12th. They noted that the move was a valuation call. Zacks Investment Research lowered Texas Roadhouse from a “buy” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Wedbush lowered their price objective on Texas Roadhouse from $73.00 to $67.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $65.00.

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About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises Texas Roadhouse and Bubba's 33 restaurants. As of February 20, 2018, it owned and operated approximately 550 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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Institutional Ownership by Quarter for Texas Roadhouse (NASDAQ:TXRH)

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