Executive Wealth Management LLC lifted its position in shares of Texas Roadhouse Inc (NASDAQ:TXRH) by 24.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,183 shares of the restaurant operator’s stock after acquiring an additional 3,765 shares during the quarter. Executive Wealth Management LLC’s holdings in Texas Roadhouse were worth $1,030,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in Texas Roadhouse in the 2nd quarter valued at about $29,000. Advisory Services Network LLC lifted its stake in Texas Roadhouse by 49.6% in the 2nd quarter. Advisory Services Network LLC now owns 603 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Texas Roadhouse in the 2nd quarter valued at about $47,000. Ellis Investment Partners LLC purchased a new position in Texas Roadhouse in the 1st quarter valued at about $55,000. Finally, Meeder Asset Management Inc. lifted its stake in Texas Roadhouse by 962.6% in the 1st quarter. Meeder Asset Management Inc. now owns 2,901 shares of the restaurant operator’s stock valued at $181,000 after buying an additional 2,628 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Gregory N. Moore sold 23,000 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $55.53, for a total value of $1,277,190.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Chris Jacobsen sold 2,500 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 21,197 shares of the company’s stock, valued at approximately $1,271,820. The disclosure for this sale can be found here. 5.89% of the stock is currently owned by company insiders.
Shares of NASDAQ TXRH traded down $0.48 during midday trading on Thursday, reaching $50.30. 321,288 shares of the stock were exchanged, compared to its average volume of 1,056,761. The firm has a 50 day moving average of $54.33. The stock has a market cap of $3.73 billion, a PE ratio of 22.86, a P/E/G ratio of 2.07 and a beta of 0.60. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 0.58. Texas Roadhouse Inc has a twelve month low of $50.76 and a twelve month high of $75.24.
Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Monday, July 29th. The restaurant operator reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The business had revenue of $689.80 million during the quarter, compared to the consensus estimate of $688.11 million. Texas Roadhouse had a net margin of 5.99% and a return on equity of 16.30%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. On average, research analysts predict that Texas Roadhouse Inc will post 2.3 earnings per share for the current year.
TXRH has been the topic of a number of research reports. Stifel Nicolaus decreased their price target on shares of Texas Roadhouse from $70.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Robert W. Baird raised shares of Texas Roadhouse from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $61.00 to $65.00 in a research note on Monday, May 13th. UBS Group decreased their target price on shares of Texas Roadhouse from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. BTIG Research raised shares of Texas Roadhouse from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Friday, May 17th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $60.00 target price (up from $58.00) on shares of Texas Roadhouse in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. Texas Roadhouse currently has a consensus rating of “Hold” and an average price target of $62.70.
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 April 29, 2019, it owned and operated approximately 590 restaurants. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.
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