Evolve Private Wealth LLC Acquires New Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Evolve Private Wealth LLC acquired 5,517 Texas Roadhouse shares in the second quarter, valued at approximately $1.07 million. Institutional investors and hedge funds collectively own 94.82% of the company.
• Texas Roadhouse exceeded quarterly expectations, reporting $1.85 in EPS on $1.68 billion in revenue, with revenue rising 11.1% year over year.
• The company declared a quarterly dividend of $0.75 per share, equivalent to $3.00 annually and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $208.48.

Evolve Private Wealth LLC 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 5,517 shares of the restaurant operator's stock, valued at approximately $1,066,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stephens Investment Management Group LLC grew its position in Texas Roadhouse by 98.2% during the fourth quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator's stock worth $61,457,000 after buying an additional 183,422 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Texas Roadhouse during the 4th quarter valued at approximately $977,000. Amica Mutual Insurance Co. acquired a new stake in shares of Texas Roadhouse in the 4th quarter worth approximately $989,000. Geode Capital Management LLC increased its stake in Texas Roadhouse by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator's stock valued at $226,984,000 after purchasing an additional 24,834 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in Texas Roadhouse in the 4th quarter valued at approximately $29,714,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $204.48 on Monday. 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 has a market capitalization of $13.42 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.02 and a beta of 0.79. The stock's fifty day simple moving average is $195.26 and its 200 day simple moving average is $180.16. 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 released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.02. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.Texas Roadhouse's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.86 EPS. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on TXRH. Wall Street Zen upgraded shares of Texas Roadhouse from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Stephens lifted their price target on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Guggenheim restated a "buy" rating and set a $210.00 price objective on shares of Texas Roadhouse in a research note on Monday, May 18th. Barclays reduced their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $208.48.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the transaction, the general counsel directly owned 860 shares in the company, valued at approximately $165,575.80. The trade was a 33.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna E. Epps sold 820 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total transaction of $169,379.20. Following the sale, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 19,745 shares of company stock worth $3,998,338. 0.50% of the stock is currently owned by insiders.

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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