Parcion Private Wealth LLC Acquires Shares of 1,714 Texas Roadhouse, Inc. $TXRH

Parcion Private Wealth LLC acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,714 shares of the restaurant operator’s stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also bought and sold shares of TXRH. Axiom Investors LLC DE lifted its position in Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator’s stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Texas Roadhouse by 209.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator’s stock worth $268,209,000 after purchasing an additional 1,089,256 shares during the period. AQR Capital Management LLC lifted its position in Texas Roadhouse by 54.3% during the first quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator’s stock worth $209,840,000 after purchasing an additional 443,767 shares during the period. Nuveen LLC bought a new stake in Texas Roadhouse during the first quarter worth about $36,208,000. Finally, TD Asset Management Inc lifted its position in Texas Roadhouse by 49.1% during the first quarter. TD Asset Management Inc now owns 600,666 shares of the restaurant operator’s stock worth $100,089,000 after purchasing an additional 197,939 shares during the period. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TXRH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Texas Roadhouse in a research report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, September 16th. Stephens set a $175.00 target price on shares of Texas Roadhouse in a report on Monday, October 13th. The Goldman Sachs Group dropped their target price on shares of Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Finally, Melius started coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They issued a “buy” rating and a $235.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

Texas Roadhouse Trading Up 0.4%

TXRH stock opened at $178.78 on Thursday. The stock has a market capitalization of $11.88 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The firm has a 50-day moving average price of $169.17 and a 200-day moving average price of $177.12.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is 41.53%.

Insider Activity at Texas Roadhouse

In related news, CTO Hernan E. Mujica sold 2,189 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the transaction, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This trade represents a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares of the company’s stock, valued at approximately $2,648,241.33. This trade represents a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 in the last quarter. 0.50% of the stock is owned by insiders.

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.