MidFirst Bank acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,525 shares of the restaurant operator’s stock, valued at approximately $1,454,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after acquiring an additional 259 shares during the last quarter. Focus Partners Wealth lifted its stake in Texas Roadhouse by 23.3% during the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock worth $1,020,000 after purchasing an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Texas Roadhouse by 36.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock worth $70,000 after purchasing an additional 111 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Texas Roadhouse in the 2nd quarter worth about $657,000. Finally, Marshall Wace LLP bought a new position in shares of Texas Roadhouse during the 2nd quarter valued at about $1,936,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on TXRH. Citigroup raised their price objective on Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Barclays cut their target price on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Stifel Nicolaus lifted their price target on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. TD Cowen lifted their price target on shares of Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $208.48.
Texas Roadhouse Stock Down 1.3%
Shares of NASDAQ:TXRH opened at $204.40 on Tuesday. The stock has a market capitalization of $13.42 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.79. The stock’s 50-day moving average price is $192.30 and its 200-day moving average price is $179.57. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last released its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.Texas Roadhouse’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 EPS. On average, equities analysts anticipate that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.
Texas Roadhouse Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s payout ratio is 48.00%.
Insider Buying and Selling at Texas Roadhouse
In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel owned 860 shares in the company, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director directly owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 3,925 shares of company stock worth $796,409. 0.50% of the stock is currently owned by insiders.
Texas Roadhouse Company Profile
Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.
The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.
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