Van ECK Associates Corp Grows Stock Position in Texas Roadhouse, Inc. $TXRH

Van ECK Associates Corp increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 18.4% in the second quarter, Holdings Channel reports. The institutional investor owned 61,904 shares of the restaurant operator’s stock after acquiring an additional 9,627 shares during the period. Van ECK Associates Corp’s holdings in Texas Roadhouse were worth $11,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TXRH. BlackRock Inc. bought a new position in Texas Roadhouse during the 2nd quarter valued at about $1,273,173,000. Balyasny Asset Management L.P. bought a new stake in Texas Roadhouse in the third quarter worth about $157,310,000. Wellington Management Group LLP lifted its stake in Texas Roadhouse by 228.4% in the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock worth $220,623,000 after purchasing an additional 924,306 shares during the last quarter. Norges Bank purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at approximately $145,734,000. Finally, Steadfast Capital Management LP grew its stake in shares of Texas Roadhouse by 99.2% during the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator’s stock valued at $211,949,000 after buying an additional 635,178 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction dated 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 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, insider Lloyd Paul Marshall sold 500 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total transaction of $102,325.00. Following the sale, the insider owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. The trade was a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,396 shares of company stock worth $4,143,825. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $195.60 on Tuesday. The firm has a market cap of $12.84 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.97 and a beta of 0.79. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $198.51 and its 200 day moving average is $180.80.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. Texas Roadhouse’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TXRH. Barclays decreased their price target on Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Wall Street Zen upgraded Texas Roadhouse from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. 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. Piper Sandler boosted their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $208.48.

Texas Roadhouse Company 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.