Global Retirement Partners LLC Takes Position in Texas Roadhouse, Inc. $TXRH

by · The Markets Daily

Global Retirement Partners LLC acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRHFree Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,832 shares of the restaurant operator’s stock, valued at approximately $547,000.

A number of other hedge funds have also recently added to or reduced their stakes in TXRH. Evergreen Capital Management LLC boosted its stake in Texas Roadhouse by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator’s stock worth $605,000 after purchasing an additional 60 shares during the period. &PARTNERS increased its stake in Texas Roadhouse by 3.5% in the 4th quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock valued at $302,000 after buying an additional 61 shares during the period. Fifth Third Bancorp lifted its stake in shares of Texas Roadhouse by 11.6% in the 4th quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator’s stock worth $107,000 after acquiring an additional 67 shares during the period. Glenmede Trust Co. NA increased its position in Texas Roadhouse by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock worth $300,000 after purchasing an additional 68 shares during the period. Finally, Beacon Investment Advisors LLC boosted its stake in shares of Texas Roadhouse by 1.4% in the fourth 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. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Insider Activity at Texas Roadhouse

In other news, Director Donna E. Epps sold 820 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the completion of the sale, the director directly owned 4,042 shares of the company’s stock, valued at $834,915.52. This represents a 16.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Christopher C. Colson sold 499 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the sale, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 4,745 shares of company stock worth $965,788. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Stock Down 0.2%

Shares of NASDAQ:TXRH opened at $202.93 on Thursday. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The firm has a market cap 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 fifty day simple moving average of $193.86 and a 200 day simple moving average of $179.86.

Texas Roadhouse (NASDAQ:TXRHGet Free Report) last released its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.Texas Roadhouse’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 EPS. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS 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. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse’s payout ratio is presently 48.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on TXRH shares. Wells Fargo & Company boosted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Guggenheim reaffirmed a “buy” rating and set a $210.00 price target on shares of Texas Roadhouse in a research note on Monday, May 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Morgan Stanley reiterated an “overweight” rating and set a $212.00 target price on shares of Texas Roadhouse in a research report on Friday, August 7th. Finally, TD Cowen increased their price objective on shares of Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse presently has an average rating of “Hold” and an average target price of $208.48.

Read Our Latest Research Report on TXRH

About Texas Roadhouse

(Free Report)

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.

Further Reading

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