Corient Private Wealth LP Invests $2.15 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• Corient Private Wealth initiated a $2.15 million position in Texas Roadhouse during the second quarter, buying 11,142 shares. Institutional investors and hedge funds collectively own 94.82% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $208.48; Wells Fargo and TD Cowen both raised their targets to $230.
• Texas Roadhouse reported quarterly revenue of $1.68 billion, up 11.1% year over year, and EPS of $1.85, slightly beating estimates. The company also announced a $0.75 quarterly dividend, while insiders have sold 20,396 shares worth about $4.14 million over the past 90 days.

Corient Private Wealth LP bought 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 fund bought 11,142 shares of the restaurant operator's stock, valued at approximately $2,153,000.

Several other institutional investors and hedge funds have also modified their holdings of TXRH. BlackRock Inc. bought a new stake in Texas Roadhouse in the 2nd quarter valued at about $1,273,173,000. AQR Capital Management LLC raised its position in shares of Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator's stock valued at $443,901,000 after buying an additional 575,685 shares in the last quarter. Capital World Investors boosted its stake in shares of Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator's stock valued at $421,190,000 after buying an additional 300,405 shares during the period. Geode Capital Management LLC grew its position in Texas Roadhouse by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator's stock worth $226,984,000 after buying an additional 24,834 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Texas Roadhouse by 228.4% during the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock worth $220,623,000 after acquiring an additional 924,306 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXRH. Wells Fargo & Company upped their target price on Texas Roadhouse from $220.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Stifel Nicolaus raised their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Citigroup increased their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Finally, TD Cowen raised their target price on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.48.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the insider directly owned 9,826 shares in the company, valued at $2,010,890.90. This trade represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 20,396 shares of company stock valued at $4,143,825. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Trading Down 0.4%

Shares of TXRH stock opened at $190.88 on Thursday. The stock's fifty day moving average price is $198.82 and its two-hundred day moving average price is $180.92. The company has a market cap of $12.53 billion, a PE ratio of 30.54, a P/E/G ratio of 1.89 and a beta of 0.78. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping 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 company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $1.86 EPS. Texas Roadhouse's revenue was up 11.1% on a year-over-year basis. Equities analysts predict that Texas Roadhouse, Inc. will post 6.64 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced 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. This represents a $3.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse's payout ratio is currently 48.00%.

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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