MidFirst Bank Makes New Investment in Texas Roadhouse, Inc. $TXRH

MidFirst Bank bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,273 shares of the restaurant operator’s stock, valued at approximately $1,539,000.

A number of other institutional investors have also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at approximately $25,000. Princeton Global Asset Management LLC purchased a new position in Texas Roadhouse in the 4th quarter worth approximately $31,000. Measured Wealth Private Client Group LLC bought a new position in Texas Roadhouse in the 3rd quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC bought a new position in Texas Roadhouse in the 4th quarter valued at approximately $34,000. Finally, TD Private Client Wealth LLC boosted its stake in Texas Roadhouse by 137.5% during the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $177.75 on Friday. The company has a market capitalization of $11.68 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.94 and a beta of 0.79. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $197.00. The business’s 50-day moving average is $169.31 and its 200 day moving average is $173.58. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the firm posted $1.70 earnings per share. Texas Roadhouse’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.42 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is presently 47.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial reduced their target price on Texas Roadhouse from $188.00 to $186.00 and set a “hold” rating for the company in a report on Friday, February 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Piper Sandler raised their target price on Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Thursday, May 21st. Finally, TD Cowen boosted their price objective on Texas Roadhouse from $192.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.36.

Insider Buying and Selling

In other Texas Roadhouse news, Director Curtis Warfield sold 2,640 shares of Texas Roadhouse stock in a transaction on Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the completion of the transaction, the director directly owned 5,361 shares of the company’s stock, valued at $981,331.05. The trade was a 33.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lloyd Paul Marshall sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the transaction, the insider directly owned 10,326 shares of the company’s stock, valued at approximately $1,841,538.84. This represents a 8.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,728 shares of company stock valued at $1,033,847 over the last 90 days. 0.50% of the stock is currently owned by insiders.

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.