Bank of New York Mellon Corp Invests $95.16 Million in Texas Roadhouse, Inc. $TXRH

Bank of New York Mellon Corp purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 492,459 shares of the restaurant operator's stock, valued at approximately $95,158,000. Bank of New York Mellon Corp owned approximately 0.75% of Texas Roadhouse at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TXRH. Focus Partners Advisor Solutions LLC bought a new stake in Texas Roadhouse during the 2nd quarter worth about $1,812,000. Summit Asset Management LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at $420,000. Maridea Wealth Management LLC bought a new position in shares of Texas Roadhouse in the 2nd quarter worth $238,000. Oppenheimer Asset Management Inc. bought a new position in shares of Texas Roadhouse in the 2nd quarter worth $2,228,000. Finally, Bank & Trust Co grew its stake in shares of Texas Roadhouse by 68.1% during the second quarter. Bank & Trust Co now owns 306 shares of the restaurant operator's stock worth $59,000 after purchasing an additional 124 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Price Performance

Shares of TXRH opened at $205.29 on Tuesday. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $216.30. The business has a 50-day moving average of $196.02 and a 200-day moving average of $180.31. The company has a market capitalization of $13.48 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 2.02 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 earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted $1.86 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse's dividend payout ratio is currently 48.00%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Donna E. Epps sold 820 shares of the firm'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 completion of the sale, the director owned 4,042 shares of the company's stock, valued at $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gerald L. Morgan sold 15,000 shares of Texas Roadhouse stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $202.17, for a total value of $3,032,550.00. Following the sale, the chief executive officer 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 19,246 shares of company stock valued at $3,908,907. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen increased their price target on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Benchmark restated a "hold" rating on shares of Texas Roadhouse in a research report on Monday, August 10th. Citigroup raised their price objective on Texas Roadhouse from $193.00 to $209.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Guggenheim reaffirmed a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Ten 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.com, Texas Roadhouse has an average rating of "Hold" and an average target price of $208.48.

About Texas Roadhouse

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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