Sanctuary Advisors LLC bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,604 shares of the restaurant operator’s stock, valued at approximately $696,000.
Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Texas Roadhouse by 12.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after purchasing an additional 259 shares during the period. Focus Partners Wealth increased its position in shares of 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 buying an additional 1,157 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Texas Roadhouse by 36.0% during the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock worth $70,000 after buying an additional 111 shares during the period. Sivia Capital Partners LLC bought a new position in Texas Roadhouse during the second quarter worth $657,000. Finally, Marshall Wace LLP bought a new position in Texas Roadhouse during the second quarter worth $1,936,000. Institutional investors own 94.82% of the company’s stock.
Insiders Place Their Bets
In related news, insider Lloyd Paul Marshall sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider directly owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. This represents a 4.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna E. Epps sold 820 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the transaction, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,396 shares of company stock worth $4,143,825 over the last three months. Insiders own 0.50% of the company’s stock.
Texas Roadhouse Stock Down 0.6%
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.
Texas Roadhouse Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.00%.
Analysts Set New Price Targets
A number of brokerages have weighed in on TXRH. TD Cowen increased their price target on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Mizuho boosted their price objective on Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. BTIG Research upped their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wells Fargo & Company raised their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $235.00 target price on shares of Texas Roadhouse in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of “Moderate Buy” and an average target price of $208.48.
Get Our Latest Report on Texas Roadhouse
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.
Featured Articles
- Five stocks we like better than Texas Roadhouse
- 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
- IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
- Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
- Okta Stock Surges 29%—Is $200 the Next Stop?
Want to see what other hedge funds are holding TXRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report).
Receive News & Ratings for Texas Roadhouse Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Roadhouse and related companies with MarketBeat.com's FREE daily email newsletter.
