West Family Investments Inc. bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,155 shares of the restaurant operator’s stock, valued at approximately $610,000.
Other institutional investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its holdings in Texas Roadhouse by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator’s stock valued at $605,000 after purchasing an additional 60 shares during the period. &PARTNERS raised its stake in shares of Texas Roadhouse by 3.5% in the fourth quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock worth $302,000 after buying an additional 61 shares during the period. Fifth Third Bancorp raised its stake in shares of Texas Roadhouse by 11.6% in the fourth quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator’s stock worth $107,000 after buying an additional 67 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Texas Roadhouse by 3.9% in the first quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock worth $300,000 after buying an additional 68 shares during the period. Finally, Beacon Investment Advisors LLC lifted its position in shares of Texas Roadhouse by 1.4% during the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $886,000 after buying an additional 72 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TXRH. Mizuho raised their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Piper Sandler upped their price target on shares of Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company upped their price target on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Barclays reduced their price objective on shares of 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. Finally, TD Cowen raised their price objective on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $208.48.
Texas Roadhouse Stock Down 0.2%
TXRH opened at $202.93 on Thursday. The firm has a 50-day simple moving average of $193.86 and a two-hundred day simple moving average of $179.86. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a market capitalization of $13.32 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS 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%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. Analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.
Texas Roadhouse Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse’s payout ratio is 48.00%.
Insider Buying and Selling at Texas Roadhouse
In related news, Director Gregory N. Moore sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares in the company, valued at $5,603,808. This trade represents a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the transaction, the general counsel directly owned 860 shares of the company’s stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,745 shares of company stock valued at $965,788 over the last quarter. 0.50% of the stock is owned by corporate insiders.
About Texas Roadhouse
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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