HB Wealth Management LLC Makes New Investment in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• HB Wealth Management LLC purchased 1,551 shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) valued at approximately $258,000 during the first quarter.
• Texas Roadhouse reported a quarterly earnings per share (EPS) of $1.70, missing consensus estimates of $1.75, despite a revenue increase of 11.8% year-over-year.
• The company's board has announced a quarterly dividend of $0.68, yielding 1.5%, with a dividend payout ratio of 41.98%.

HB Wealth Management LLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,551 shares of the restaurant operator's stock, valued at approximately $258,000.

A number of other hedge funds also recently made changes to their positions in the company. LPL Financial LLC boosted its stake in Texas Roadhouse by 51.8% during the 4th quarter. LPL Financial LLC now owns 35,952 shares of the restaurant operator's stock valued at $6,467,000 after acquiring an additional 12,275 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Texas Roadhouse by 11.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,613 shares of the restaurant operator's stock valued at $1,915,000 after purchasing an additional 1,098 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Texas Roadhouse by 5.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,569 shares of the restaurant operator's stock worth $1,005,000 after purchasing an additional 269 shares during the last quarter. National Bank of Canada FI grew its stake in Texas Roadhouse by 220.1% in the fourth quarter. National Bank of Canada FI now owns 1,210 shares of the restaurant operator's stock worth $218,000 after purchasing an additional 832 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Texas Roadhouse by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,207,645 shares of the restaurant operator's stock valued at $217,959,000 after buying an additional 6,004 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Activity

In related news, Director Gregory N. Moore sold 1,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the sale, the director directly owned 38,050 shares of the company's stock, valued at $7,138,941. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donna E. Epps sold 800 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the sale, the director directly owned 4,632 shares in the company, valued at $863,960.64. This trade represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Trading Up 1.0%

TXRH stock traded up $1.82 during trading on Monday, hitting $184.79. The company had a trading volume of 678,424 shares, compared to its average volume of 1,102,273. The business has a 50 day moving average of $188.96 and a 200 day moving average of $179.16. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.58 and a beta of 0.86. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.05). Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the company earned $1.69 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse's dividend payout ratio (DPR) is 41.98%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. UBS Group 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, June 6th. Melius initiated coverage on shares of Texas Roadhouse in a report on Monday, July 14th. They issued a "buy" rating and a $235.00 price objective for the company. Guggenheim increased their target price on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Stifel Nicolaus raised their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $196.85.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.