Westfield Capital Management Co. LP Has $98.45 Million Stock Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Westfield Capital Management Co. LP cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 29.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 557,467 shares of the restaurant operator’s stock after selling 231,925 shares during the period. Westfield Capital Management Co. LP owned approximately 0.84% of Texas Roadhouse worth $98,449,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TXRH. Marshall Wace LLP grew its position in shares of Texas Roadhouse by 128.9% during the 2nd quarter. Marshall Wace LLP now owns 765,096 shares of the restaurant operator’s stock worth $131,375,000 after purchasing an additional 430,814 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Texas Roadhouse in the third quarter valued at approximately $41,670,000. AQR Capital Management LLC grew its position in Texas Roadhouse by 22.3% during the second quarter. AQR Capital Management LLC now owns 909,847 shares of the restaurant operator’s stock worth $156,230,000 after buying an additional 165,738 shares in the last quarter. Jennison Associates LLC grew its position in Texas Roadhouse by 29.1% during the third quarter. Jennison Associates LLC now owns 622,561 shares of the restaurant operator’s stock worth $109,944,000 after buying an additional 140,439 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new position in Texas Roadhouse during the 2nd quarter worth $21,462,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial increased their target price on Texas Roadhouse from $202.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Stephens increased their price objective on shares of Texas Roadhouse from $170.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Guggenheim boosted their target price on shares of Texas Roadhouse from $190.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Citigroup increased their price target on shares of Texas Roadhouse from $192.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $189.00.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $194.90 on Friday. Texas Roadhouse, Inc. has a one year low of $110.88 and a one year high of $203.32. The company has a market cap of $13.00 billion, a PE ratio of 33.49, a P/E/G ratio of 1.64 and a beta of 0.98. The firm’s 50 day simple moving average is $183.50 and its 200 day simple moving average is $173.78.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.06). Texas Roadhouse had a net margin of 7.65% and a return on equity of 31.33%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business posted $0.95 EPS. Texas Roadhouse’s revenue was up 13.5% on a year-over-year basis. Equities research analysts expect that Texas Roadhouse, Inc. will post 6.39 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.25%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.92%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Donna E. Epps sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $195.66, for a total value of $119,352.60. Following the transaction, the director now owns 3,532 shares in the company, valued at approximately $691,071.12. The trade was a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Hernan E. Mujica sold 1,500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the completion of the sale, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. This represents a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.