Central Pacific Bank Trust Division Reduces Holdings in Texas Roadhouse, Inc. $TXRH

Central Pacific Bank Trust Division lessened its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 850 shares of the restaurant operator’s stock after selling 270 shares during the period. Central Pacific Bank Trust Division’s holdings in Texas Roadhouse were worth $159,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Advisory Alpha LLC lifted its holdings in Texas Roadhouse by 3.0% during the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock worth $344,000 after purchasing an additional 60 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in Texas Roadhouse by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator’s stock worth $458,000 after purchasing an additional 62 shares in the last quarter. Optas LLC lifted its holdings in Texas Roadhouse by 1.3% during the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator’s stock worth $869,000 after purchasing an additional 65 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Texas Roadhouse by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator’s stock worth $2,271,000 after purchasing an additional 66 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Texas Roadhouse by 14.0% during the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 0.3%

Shares of Texas Roadhouse stock opened at $166.69 on Monday. The firm has a market capitalization of $11.08 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84. The business’s 50-day moving average price is $178.58 and its 200-day moving average price is $178.53. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. Texas Roadhouse’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.79 earnings per share. As a group, analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s dividend payout ratio is 41.53%.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Melius Research raised Texas Roadhouse to a “strong-buy” rating in a report on Monday, July 14th. Morgan Stanley increased their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Melius started coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a “buy” rating and a $235.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.35.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.