Paragon Financial Partners Inc. Buys Shares of 5,818 Texas Roadhouse, Inc. $TXRH

Paragon Financial Partners Inc. bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,818 shares of the restaurant operator’s stock, valued at approximately $1,195,000. Texas Roadhouse makes up about 0.6% of Paragon Financial Partners Inc.’s portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of TXRH. Stephens Investment Management Group LLC boosted its position 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 worth $61,457,000 after purchasing an additional 183,422 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Texas Roadhouse in the fourth quarter valued at approximately $977,000. Amica Mutual Insurance Co. acquired a new stake in shares of Texas Roadhouse in the fourth quarter worth $989,000. Geode Capital Management LLC lifted its stake in shares of Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock worth $226,984,000 after buying an additional 24,834 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in shares of Texas Roadhouse during the 4th quarter worth $29,714,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $204.40 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a 50-day moving average of $192.30 and a 200-day moving average of $179.57. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 32.70, a PEG ratio of 2.05 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data 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. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the company posted $1.86 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $0.75 dividend. 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 48.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TXRH shares. Mizuho boosted their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Royal Bank Of Canada lifted their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Piper Sandler increased their target price on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, BTIG Research raised their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $208.48.

Insider Activity

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel owned 860 shares in the company, valued at approximately $165,575.80. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the transaction, the director directly owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. This represents a 10.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,925 shares of company stock worth $796,409. 0.50% of the stock is owned by corporate 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.