Corient Private Wealth LP Acquires New Shares in Texas Roadhouse, Inc. $TXRH

Corient Private Wealth LP acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 11,142 shares of the restaurant operator’s stock, valued at approximately $2,153,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TXRH. Ranger Investment Management L.P. acquired a new position in shares of Texas Roadhouse in the second quarter valued at approximately $21,560,000. The Manufacturers Life Insurance Company bought a new stake in Texas Roadhouse during the 2nd quarter worth approximately $9,473,000. Callan Family Office LLC acquired a new position in Texas Roadhouse in the 2nd quarter valued at approximately $1,449,000. Stephens Investment Management Group LLC increased its position in Texas Roadhouse by 98.2% in the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator’s stock valued at $61,457,000 after acquiring an additional 183,422 shares during the period. Finally, J. Goldman & Co LP bought a new position in shares of Texas Roadhouse during the second quarter valued at $10,434,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Wall Street Analyst Weigh In

TXRH has been the topic of several analyst reports. Stephens boosted their price objective on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research report on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. BTIG Research upped their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.48.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $190.88 on Thursday. The company has a market cap of $12.53 billion, a P/E ratio of 30.54, a PEG ratio of 1.89 and a beta of 0.78. The company has a fifty day simple moving average of $198.82 and a 200 day simple moving average of $180.92. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30.

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 analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Sell-side analysts predict that Texas Roadhouse, Inc. will post 6.64 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio is currently 48.00%.

Insiders Place Their Bets

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the sale, the chief executive officer directly owned 80,970 shares of the company’s stock, valued at approximately $16,369,704.90. The trade was a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lloyd Paul Marshall sold 500 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the sale, the insider directly owned 9,826 shares of the company’s stock, valued at approximately $2,010,890.90. This trade represents a 4.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,396 shares of company stock worth $4,143,825 in the last 90 days. Company insiders own 0.50% of the company’s stock.

About Texas Roadhouse

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.