Elevation Point Wealth Partners LLC Makes New Investment in Texas Roadhouse, Inc. $TXRH

Elevation Point Wealth Partners LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the 1st quarter, Holdings Channel reports. The firm purchased 3,682 shares of the restaurant operator’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Alliancebernstein L.P. boosted its position in shares of Texas Roadhouse by 14.7% during the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator’s stock valued at $604,606,000 after buying an additional 466,176 shares during the last quarter. AQR Capital Management LLC raised its position in Texas Roadhouse by 27.4% in the 4th quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after buying an additional 575,685 shares during the last quarter. Capital World Investors lifted its stake in Texas Roadhouse by 13.4% during the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock valued at $421,190,000 after acquiring an additional 300,405 shares during the period. UBS Group AG boosted its holdings in shares of Texas Roadhouse by 60.4% during the 4th quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after acquiring an additional 522,509 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Texas Roadhouse by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after acquiring an additional 24,834 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXRH. Barclays reduced their price target on shares of 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. Citigroup dropped their target price 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. Royal Bank Of Canada raised shares of Texas Roadhouse from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $180.00 to $210.00 in a research report on Friday, May 15th. BMO Capital Markets increased their price target on Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Finally, Wells Fargo & Company dropped their price target on Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $196.36.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Jane Grote Abell sold 339 shares of Texas Roadhouse stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $177.43, for a total transaction of $60,148.77. Following the transaction, the director directly owned 2,161 shares of the company’s stock, valued at $383,426.23. The trade was a 13.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the transaction, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. This trade represents a 33.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,154 shares of company stock valued at $1,115,864 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Stock Up 0.5%

TXRH opened at $187.03 on Wednesday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $197.00. The company has a market capitalization of $12.29 billion, a PE ratio of 29.88, a PEG ratio of 2.03 and a beta of 0.78. The firm’s 50 day simple moving average is $175.87 and its two-hundred day simple moving average is $175.45.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 EPS. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 6.42 EPS for the current 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Texas Roadhouse’s payout ratio is currently 47.92%.

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.