Cookson Peirce & Co. Inc. bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,792 shares of the restaurant operator’s stock, valued at approximately $1,699,000.
Several other hedge funds have also bought and sold shares of the stock. Ranger Investment Management L.P. purchased a new stake in Texas Roadhouse in the 2nd quarter worth approximately $21,560,000. Stephens Investment Management Group LLC lifted its holdings in Texas Roadhouse by 98.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock valued at $61,457,000 after purchasing an additional 183,422 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Texas Roadhouse in the second quarter worth approximately $10,434,000. Bamco Inc. NY bought a new position in shares of Texas Roadhouse in the second quarter worth approximately $60,148,000. Finally, Callan Family Office LLC purchased a new stake in shares of Texas Roadhouse in the second quarter worth $1,449,000. Institutional investors own 94.82% of the company’s stock.
Insider Transactions at Texas Roadhouse
In other news, insider Lloyd Paul Marshall sold 500 shares of Texas Roadhouse stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the sale, the insider directly owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. The trade was a 4.84% 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. Also, Director Hugh J. Carroll sold 650 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the sale, the director owned 2,883 shares in the company, valued at $588,103.17. This represents a 18.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,396 shares of company stock valued at $4,143,825. 0.50% of the stock is owned by insiders.
Texas Roadhouse Price Performance
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last posted its 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. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. Texas Roadhouse’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.86 earnings per share. On average, equities analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.
Texas Roadhouse Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.75 per share. 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 dividend payout ratio (DPR) is presently 48.00%.
Analyst Ratings Changes
A number of research analysts recently weighed in on TXRH shares. Benchmark restated a “hold” rating on shares of Texas Roadhouse in a research note on Monday, August 10th. Citigroup increased their price target on Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Piper Sandler raised their price target on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, August 10th. UBS Group boosted their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Mizuho upped their price objective on Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.48.
Check Out Our Latest Stock Analysis on TXRH
Texas Roadhouse 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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