Envestnet Asset Management Inc. Purchases 17,949 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Envestnet Asset Management Inc. boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,196 shares of the restaurant operator’s stock after acquiring an additional 17,949 shares during the quarter. Envestnet Asset Management Inc. owned 0.26% of Texas Roadhouse worth $29,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Texas Roadhouse by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,476,056 shares of the restaurant operator’s stock valued at $1,000,356,000 after buying an additional 53,419 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Texas Roadhouse by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 744,624 shares of the restaurant operator’s stock valued at $127,859,000 after buying an additional 2,578 shares during the last quarter. Norges Bank bought a new position in shares of Texas Roadhouse during the fourth quarter valued at about $78,544,000. Balyasny Asset Management L.P. grew its stake in shares of Texas Roadhouse by 4,150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 451,697 shares of the restaurant operator’s stock valued at $55,211,000 after buying an additional 441,069 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Texas Roadhouse by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 305,488 shares of the restaurant operator’s stock valued at $37,340,000 after buying an additional 5,185 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stephens raised their price objective on Texas Roadhouse from $170.00 to $176.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. BMO Capital Markets raised their price objective on Texas Roadhouse from $145.00 to $155.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their target price on Texas Roadhouse from $184.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on Texas Roadhouse from $165.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, BTIG Research raised their target price on Texas Roadhouse from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.85.

Texas Roadhouse Stock Performance

TXRH stock opened at $169.71 on Friday. The firm has a 50 day moving average price of $167.84 and a 200-day moving average price of $163.83. Texas Roadhouse, Inc. has a 52-week low of $91.06 and a 52-week high of $177.72. The firm has a market capitalization of $11.34 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 1.48 and a beta of 0.99.

Texas Roadhouse (NASDAQ:TXRH) last released its earnings results on Thursday, July 25th. The restaurant operator reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.15. Texas Roadhouse had a net margin of 7.47% and a return on equity of 30.94%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the business earned $1.22 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.32 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Wednesday, September 4th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $2.44 dividend on an annualized basis and a yield of 1.44%. Texas Roadhouse’s payout ratio is currently 49.39%.

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.