Palisade Capital Managementnj Lowers stake in Texas Roadhouse Inc (TXRH)

Texas Roadhouse Inc (TXRH) : Palisade Capital Managementnj reduced its stake in Texas Roadhouse Inc by 12.72% during the most recent quarter end. The investment management company now holds a total of 378,318 shares of Texas Roadhouse Inc which is valued at $16,131,480 after selling 55,157 shares in Texas Roadhouse Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Texas Roadhouse Inc makes up approximately 0.68% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c sold out all of its stake in TXRH during the most recent quarter. The investment firm sold 9,034 shares of TXRH which is valued $385,210. Financial Architects Inc added TXRH to its portfolio by purchasing 570 company shares during the most recent quarter which is valued at $26,186. Texas Roadhouse Inc makes up approx 0.01% of Financial Architects Inc’s portfolio.Winslow Evans Crocker boosted its stake in TXRH in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 296 shares of Texas Roadhouse Inc which is valued at $14,300. Cutler Group Lp added TXRH to its portfolio by purchasing 272 company shares during the most recent quarter which is valued at $12,692.

Texas Roadhouse Inc opened for trading at $44.8 and hit $45.62 on the upside on Monday, eventually ending the session at $44.86, with a gain of 0.63% or 0.28 points. The heightened volatility saw the trading volume jump to 13,10,800 shares. Company has a market cap of $3,155 M.

On the company’s financial health, Texas Roadhouse Inc reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.45. The company had revenue of $508.80 million for the quarter, compared to analysts expectations of $509.30 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Texas Roadhouse Inc. Texas Roadhouse Inc was Downgraded by Jefferies to ” Underperform” on Jul 26, 2016. Telsey Advisory Group Downgraded Texas Roadhouse Inc on Jul 26, 2016 to ” Market Perform”, Price Target of the shares are set at $48.Texas Roadhouse Inc was Downgraded by Stifel to ” Hold” on Jul 26, 2016.

Texas Roadhouse Inc. is a full-service casual dining restaurant company. The Company offers an assortment of seasoned and aged steaks. In addition to steaks it also offers ribs fish seafood chicken pork chops pulled pork and vegetable plates and an assortment of hamburgers salads and sandwiches. Its entrees include made-from-scratch yeast rolls and also include the choice of two of the following made-from-scratch sides: baked potato sweet potato steak fries mashed potatoes house or Caesar salad green beans chili seasoned rice buttered corn applesauce and steamed vegetables. Its restaurants offer a full bar that offers draft and bottled beer different brands of liquor and wine as well as margaritas. As of December 30 2014 the Company had 451 restaurants which included 372 Company restaurants of which 356 were wholly-owned and 16 were majority-owned and 79 franchise restaurants in which the Company held 5% to 10.0% ownership interest in 23 restaurants.

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