Norden Group LLC Acquires New Holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Norden Group LLC has acquired a new stake in Texas Roadhouse, purchasing 3,424 shares valued at approximately $571,000 during the first quarter.
• Various institutional investors, including Bessemer Group Inc. and Wealth Enhancement Advisory Services LLC, have significantly increased their holdings in Texas Roadhouse, showing strong institutional confidence in the company.
• Texas Roadhouse recently declared a quarterly dividend of $0.68 per share, representing an annualized yield of 1.45% and reflecting a dividend payout ratio of 41.98%.

Norden Group LLC bought a new position 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 institutional investor bought 3,424 shares of the restaurant operator's stock, valued at approximately $571,000.

Several other institutional investors and hedge funds also recently modified their holdings of TXRH. First National Advisers LLC acquired a new stake in Texas Roadhouse during the first quarter valued at approximately $2,177,000. LPL Financial LLC lifted its position in shares of Texas Roadhouse by 26.0% during the 1st quarter. LPL Financial LLC now owns 45,294 shares of the restaurant operator's stock valued at $7,399,000 after acquiring an additional 9,342 shares during the last quarter. Texas Yale Capital Corp. lifted its position in shares of Texas Roadhouse by 27.4% during the 1st quarter. Texas Yale Capital Corp. now owns 17,325 shares of the restaurant operator's stock valued at $2,887,000 after acquiring an additional 3,729 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Texas Roadhouse by 2.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,429 shares of the restaurant operator's stock valued at $2,904,000 after purchasing an additional 348 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Texas Roadhouse in the first quarter valued at $258,000. 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 company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the transaction, the director owned 38,050 shares in the company, valued at approximately $7,138,941. This represents a 2.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna E. Epps sold 800 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the transaction, the director owned 4,632 shares in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Performance

TXRH traded down $2.16 during trading on Friday, reaching $182.97. 1,110,680 shares of the company's stock were exchanged, compared to its average volume of 1,105,196. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The firm has a market capitalization of $12.14 billion, a PE ratio of 28.24, a P/E/G ratio of 2.64 and a beta of 0.87. The company's fifty day moving average price is $189.10 and its 200-day moving average price is $179.13.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The company's revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 earnings per share. Research analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were paid 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 payout ratio is currently 41.98%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TXRH. The Goldman Sachs Group increased their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Stephens reiterated an "equal weight" rating and set a $170.00 price objective on shares of Texas Roadhouse in a report on Tuesday, June 10th. Citigroup increased their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a report on Tuesday. Barclays increased their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Bank of America increased their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Texas Roadhouse 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.