36,490 Shares in Texas Roadhouse, Inc. $TXRH Acquired by Castleark Management LLC

Castleark Management LLC purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,490 shares of the restaurant operator's stock, valued at approximately $7,051,000. Castleark Management LLC owned about 0.06% of Texas Roadhouse at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC boosted its holdings in Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in Texas Roadhouse in the second quarter valued at $32,000. Measured Wealth Private Client Group LLC acquired a new stake in Texas Roadhouse during the 3rd quarter worth about $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Texas Roadhouse during the 4th quarter worth about $34,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Trading Down 1.0%

Shares of NASDAQ:TXRH opened at $203.28 on Wednesday. The business's 50 day moving average price is $196.72 and its 200-day moving average price is $180.44. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $216.30. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued 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. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share 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. Stockholders 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 payout ratio is currently 48.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BTIG Research boosted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 7th. Piper Sandler raised their target price on Texas Roadhouse from $192.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price target on Texas Roadhouse from $220.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Citigroup boosted their price target on Texas Roadhouse from $193.00 to $209.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Finally, UBS Group upped their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $208.48.

Insider Activity at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the transaction, the general counsel owned 860 shares in the company, valued at $165,575.80. This represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at $16,369,704.90. This represents a 15.63% 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 19,246 shares of company stock worth $3,908,907 in the last quarter. Company insiders own 0.50% of the company's stock.

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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