111,578 Shares in Texas Roadhouse, Inc. $TXRH Acquired by Ranger Investment Management L.P.

Key Points

• Ranger Investment Management acquired 111,578 Texas Roadhouse shares worth approximately $21.56 million, giving the fund a 0.17% stake and making TXRH 1.4% of its portfolio. Institutional investors collectively own 94.82% of the company.
• Texas Roadhouse reported quarterly revenue of $1.68 billion, up 11.1% year over year, and adjusted earnings of $1.85 per share, slightly exceeding analysts’ expectations. The company also declared a $0.75 quarterly dividend, equivalent to a 1.5% annual yield.
• The stock opened at $204.48, near its 52-week high of $216.30. Analysts maintain a consensus “Hold” rating with an average price target of $208.48, while insiders have sold nearly 19,745 shares worth about $4 million over the past 90 days.

Ranger Investment Management L.P. purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 111,578 shares of the restaurant operator's stock, valued at approximately $21,560,000. Texas Roadhouse comprises 1.4% of Ranger Investment Management L.P.'s holdings, making the stock its 28th biggest holding. Ranger Investment Management L.P. owned 0.17% of Texas Roadhouse as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in shares of Texas Roadhouse by 12.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator's stock worth $404,000 after acquiring an additional 259 shares in the last quarter. Focus Partners Wealth raised its position in shares of Texas Roadhouse by 23.3% during 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 period. 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 during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at $657,000. Finally, Marshall Wace LLP acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at $1,936,000. Institutional investors own 94.82% of the company's stock.

Insider Activity at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the transaction, the director directly owned 26,900 shares in the company, valued at $5,603,808. The trade was a 10.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher C. Colson sold 499 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the completion of the transaction, the insider directly owned 14,500 shares in the company, 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 19,745 shares of company stock worth $3,998,338. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Price Performance

Shares of TXRH opened at $204.48 on Monday. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.02 and a beta of 0.79. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The business's 50-day moving average is $195.26 and its 200-day moving average is $180.16.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the company posted $1.86 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse's dividend payout ratio (DPR) is 48.00%.

Analysts Set New Price Targets

Several research firms have issued reports on TXRH. Guggenheim restated a "buy" rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Monday, May 18th. UBS Group raised their target price on shares of Texas Roadhouse from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Barclays dropped their target price on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Finally, Citigroup lifted their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $208.48.

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.

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