Allegiance Financial Group Advisory Services LLC Takes Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Allegiance Financial Group Advisory Services LLC acquired a new stake in Texas Roadhouse, purchasing 1,630 shares valued at approximately $307,000.
• Several hedge funds increased their holdings in Texas Roadhouse, with institutional investors owning 94.82% of the company's stock.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, representing a yield of 1.6% with a payout ratio of 41.53%.

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,630 shares of the restaurant operator's stock, valued at approximately $307,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TXRH. Farther Finance Advisors LLC raised its holdings in Texas Roadhouse by 22.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator's stock worth $59,000 after buying an additional 58 shares during the period. Advisory Alpha LLC raised its holdings in Texas Roadhouse by 3.0% during the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator's stock worth $344,000 after buying an additional 60 shares during the period. Dakota Wealth Management raised its holdings in Texas Roadhouse by 3.8% during the 2nd quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator's stock worth $314,000 after buying an additional 61 shares during the period. Valeo Financial Advisors LLC raised its holdings in Texas Roadhouse by 2.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock worth $458,000 after buying an additional 62 shares during the period. Finally, Optas LLC raised its holdings in Texas Roadhouse by 1.3% during the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock worth $869,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Melius assumed coverage on Texas Roadhouse in a report on Monday, July 14th. They issued a "buy" rating and a $235.00 target price on the stock. Citigroup upped their target price on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a "buy" rating in a report on Wednesday, July 2nd. Evercore ISI downgraded Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 target price on the stock. in a report on Thursday, September 4th. Finally, The Goldman Sachs Group dropped their target price on Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus target price of $196.00.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $165.87 on Thursday. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.28 and a beta of 0.82. The business has a 50 day simple moving average of $170.62 and a 200 day simple moving average of $176.97. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.79 EPS. On average, analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director owned 34,550 shares of the company's stock, valued at $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Regina A. Tobin sold 3,153 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares of the company's stock, valued at $2,648,241.33. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,342 shares of company stock valued at $1,443,704 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.

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