Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,106 shares of the restaurant operator's stock, valued at approximately $3,692,000.
Several other institutional investors and hedge funds also recently bought and sold shares of TXRH. Elyxium Wealth LLC acquired a new stake in Texas Roadhouse during the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Texas Roadhouse by 5,033.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock worth $25,000 after purchasing an additional 151 shares during the period. Silvant Capital Management LLC acquired a new stake in shares of Texas Roadhouse during the 2nd quarter worth about $32,000. Measured Wealth Private Client Group LLC purchased a new stake in Texas Roadhouse in the 3rd quarter valued at about $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at about $34,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Texas Roadhouse
In other news, insider Lloyd Paul Marshall sold 500 shares of Texas Roadhouse stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total transaction of $102,325.00. Following the completion of the sale, the insider directly owned 9,826 shares in the company, valued at approximately $2,010,890.90. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerald L. Morgan sold 15,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,396 shares of company stock worth $4,143,825. 0.50% of the stock is currently owned by insiders.
Texas Roadhouse Stock Performance
Shares of TXRH stock opened at $198.99 on Friday. The stock has a market capitalization of $13.06 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.98 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average price is $198.20 and its 200 day moving average price is $180.76. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.
Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. Texas Roadhouse's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.
Texas Roadhouse Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse's dividend payout ratio is presently 48.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on TXRH shares. Morgan Stanley reiterated an "overweight" rating and set a $212.00 price target on shares of Texas Roadhouse in a research report on Friday, August 7th. Royal Bank Of Canada lifted their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. BMO Capital Markets increased their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a research note on Thursday, May 21st. Piper Sandler lifted 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, Stifel Nicolaus increased their price target on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and an average target price of $208.48.
Check Out Our Latest Stock Report on Texas Roadhouse
About Texas Roadhouse
(
Free Report)
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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