Texas Roadhouse, Inc. $TXRH Stock Sold by Cooper Investors PTY Ltd.
by Michael Walen · The Markets DailyCooper Investors PTY Ltd. lowered its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Free Report) by 83.8% in the third quarter, Holdings Channel.com reports. The fund owned 930 shares of the restaurant operator’s stock after selling 4,827 shares during the quarter. Cooper Investors PTY Ltd.’s holdings in Texas Roadhouse were worth $145,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TXRH. Ranger Investment Management L.P. purchased a new position in Texas Roadhouse in the 2nd quarter valued at $21,560,000. The Manufacturers Life Insurance Company acquired a new stake in Texas Roadhouse during the 2nd quarter worth $9,473,000. J. Goldman & Co LP acquired a new stake in Texas Roadhouse during the 2nd quarter worth $10,434,000. Bamco Inc. NY purchased a new stake in shares of Texas Roadhouse during the second quarter worth $60,148,000. Finally, Callan Family Office LLC purchased a new stake in shares of Texas Roadhouse during the second quarter worth $1,449,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.
Insider Activity
In other news, Director Donna Epps sold 820 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $206.56, for a total transaction of $169,379.20. Following the transaction, the director owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. The trade was a 16.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory Moore sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares of the company’s stock, valued at $5,603,808. This represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 19,970 shares of company stock worth $4,061,808. Insiders own 0.50% of the company’s stock.
Texas Roadhouse Trading Up 2.1%
Texas Roadhouse stock traded up $3.37 during trading on Tuesday, reaching $162.18. 1,122,855 shares of the company were exchanged, compared to its average volume of 1,062,641. The stock’s 50 day simple moving average is $184.06 and its two-hundred day simple moving average is $179.39. The company has a market capitalization of $10.65 billion, a P/E ratio of 25.95, a PEG ratio of 1.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.
Texas Roadhouse (NASDAQ:TXRH – Get Free Report) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) 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 return on equity of 27.20% and a net margin of 6.63%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 6.61 earnings per share for the current fiscal year.
Texas Roadhouse Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 1st. Texas Roadhouse’s payout ratio is currently 48.00%.
Analysts Set New Price Targets
TXRH has been the subject of a number of recent research reports. TD Cowen increased their target price 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. Morgan Stanley restated an “overweight” rating and set a $212.00 price target on shares of Texas Roadhouse in a research report on Friday, August 7th. Royal Bank Of Canada dropped their price objective on shares of Texas Roadhouse from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. JPMorgan Chase & Co. dropped their price objective on shares of Texas Roadhouse from $202.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, September 29th. Finally, Piper Sandler increased their price objective on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.76.
Check Out Our Latest Stock Report on Texas Roadhouse
Texas Roadhouse Profile
Texas Roadhouse, Inc is a casual dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, made-from-scratch sides, fresh-baked bread and a lively, Western-themed atmosphere.
Founded in 1993 and headquartered in Louisville, Kentucky, Texas Roadhouse has grown into an international restaurant operator with locations across the United States and in select foreign markets. The company’s business includes company-operated restaurants, franchised and licensed locations, and related support activities.
Texas Roadhouse primarily serves full-service casual dining customers, while Bubba’s 33 focuses on burgers, pizza and other American favorites in a sports-oriented setting.
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