Moran Wealth Management LLC Sells 3,273 Shares of Texas Roadhouse, Inc. $TXRH

Moran Wealth Management LLC reduced its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,893 shares of the restaurant operator’s stock after selling 3,273 shares during the period. Moran Wealth Management LLC owned about 0.09% of Texas Roadhouse worth $9,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Texas Roadhouse by 12.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after purchasing an additional 259 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock worth $1,020,000 after purchasing an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Texas Roadhouse by 36.0% during the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after purchasing an additional 111 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Texas Roadhouse during the second quarter valued at $657,000. Finally, Marshall Wace LLP purchased a new stake in shares of Texas Roadhouse during the second quarter valued at $1,936,000. 94.82% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gregory N. Moore sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the sale, the director directly owned 30,900 shares in the company, valued at approximately $5,504,526. The trade was a 3.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 499 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the sale, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,728 shares of company stock worth $1,033,847. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Performance

TXRH stock opened at $194.28 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $197.00. The company has a market cap of $12.77 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 2.12 and a beta of 0.78. The stock’s fifty day moving average price is $174.81 and its 200-day moving average price is $175.16.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business earned $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 analysts forecast that Texas Roadhouse, Inc. will post 6.42 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TXRH shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $200.00 target price on shares of Texas Roadhouse in a research report on Friday, May 8th. TD Cowen raised their price target on shares of Texas Roadhouse from $192.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Royal Bank Of Canada raised shares of Texas Roadhouse from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $180.00 to $210.00 in a report on Friday, May 15th. 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, Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Texas Roadhouse has a consensus rating of “Hold” and a consensus target price of $196.36.

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.