6,588,899 Shares in Texas Roadhouse, Inc. $TXRH Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 6.59 million Texas Roadhouse shares during the second quarter, valued at approximately $1.27 billion, giving it a 10.02% stake. Institutional investors collectively own 94.82% of the company.
• Analysts remain mixed: ten rate the stock a Buy and thirteen rate it a Hold, producing a consensus “Hold” rating and an average price target of $208.48. Several firms recently raised their targets, with estimates ranging from $208 to $235.
• Texas Roadhouse reported quarterly EPS of $1.85 and revenue of $1.68 billion, both slightly ahead of expectations, while revenue increased 11.1% year over year. The company also declared a quarterly dividend of $0.75 per share, equivalent to a 1.5% annual yield.

BlackRock Inc. acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 6,588,899 shares of the restaurant operator's stock, valued at approximately $1,273,173,000. BlackRock Inc. owned approximately 10.02% of Texas Roadhouse at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TXRH. Elyxium Wealth LLC purchased a new stake in shares of Texas Roadhouse during the fourth quarter worth approximately $25,000. Basecamp Wealth Advisors LLC lifted its holdings in Texas Roadhouse by 5,033.3% in the 1st 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 in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Texas Roadhouse during the 3rd quarter worth $33,000. Garton & Associates Financial Advisors LLC acquired a new stake in Texas Roadhouse during the 4th quarter worth $34,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Texas Roadhouse by 137.5% during the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock worth $44,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BTIG Research increased their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Robert W. Baird set a $235.00 price target on shares of Texas Roadhouse in a research report on Friday, August 7th. Citigroup upped their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Piper Sandler increased their price objective on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $212.00 target price on shares of Texas Roadhouse in a research note on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $208.48.

Insider Transactions at Texas Roadhouse

In related news, Director Donna E. Epps sold 820 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the sale, the director owned 4,042 shares in the company, valued at approximately $834,915.52. The trade was a 16.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher C. Colson sold 499 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the sale, the insider 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 disclosure for this sale is available in the SEC filing. Insiders have sold 4,745 shares of company stock valued at $965,788 over the last three months. 0.50% of the stock is currently owned by company insiders.

Texas Roadhouse Trading Down 0.9%

Shares of Texas Roadhouse stock opened at $201.19 on Friday. The stock has a 50 day moving average of $194.53 and a 200 day moving average of $180.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.01 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.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for 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%. Texas Roadhouse's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. As a group, research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently declared 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. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse's dividend payout ratio is 48.00%.

Texas Roadhouse Company 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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