Texas Roadhouse, Inc. $TXRH Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 133.5% in the first quarter, Holdings Channel.com reports. The firm owned 5,070 shares of the restaurant operator’s stock after purchasing an additional 2,899 shares during the period. HB Wealth Management LLC’s holdings in Texas Roadhouse were worth $837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at $25,000. Princeton Global Asset Management LLC acquired a new stake in Texas Roadhouse in the 4th quarter worth about $31,000. Measured Wealth Private Client Group LLC purchased a new stake in Texas Roadhouse in the 3rd quarter valued at about $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in Texas Roadhouse in the 4th quarter valued at about $34,000. Finally, TD Private Client Wealth LLC increased its stake in shares of 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 acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 3.0%

Shares of TXRH opened at $187.04 on Friday. The stock’s 50-day moving average is $176.92 and its two-hundred day moving average is $175.58. The stock has a market cap of $12.29 billion, a PE ratio of 29.88, a P/E/G ratio of 1.98 and a beta of 0.78. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $197.00. 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 (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is currently 47.92%.

Analyst Upgrades and Downgrades

TXRH has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $201.00 price objective on shares of Texas Roadhouse in a report on Friday, May 8th. Wall Street Zen upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Wells Fargo & Company dropped their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Piper Sandler increased their price target on shares of Texas Roadhouse from $190.00 to $192.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, Citigroup decreased their price target on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $196.91.

Insider Buying and Selling

In other Texas Roadhouse news, insider Christopher C. Colson sold 499 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel owned 860 shares in the company, valued at $165,575.80. This represents a 33.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,154 shares of company stock valued at $1,115,864 over the last three months. Company insiders own 0.50% of the company’s stock.

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.