Fifth Third Bancorp Boosts Stake in Texas Roadhouse, Inc. $TXRH

Fifth Third Bancorp increased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 2,346.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,755 shares of the restaurant operator's stock after purchasing an additional 15,111 shares during the quarter. Fifth Third Bancorp's holdings in Texas Roadhouse were worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TXRH. NewEdge Advisors LLC lifted its position in Texas Roadhouse by 12.0% during the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator's stock worth $404,000 after buying an additional 259 shares during the period. Focus Partners Wealth grew its holdings in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator's stock valued at $1,020,000 after purchasing an additional 1,157 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock valued at $70,000 after acquiring an additional 111 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Texas Roadhouse during the 2nd quarter worth about $657,000. Finally, Marshall Wace LLP purchased a new stake in Texas Roadhouse during the second quarter worth approximately $1,936,000. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Down 0.4%

Shares of Texas Roadhouse stock opened at $196.26 on Tuesday. The business's fifty day moving average price is $180.80 and its two-hundred day moving average price is $176.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. The company has a market capitalization of $12.90 billion, a P/E ratio of 31.35, a PEG ratio of 2.11 and a beta of 0.78. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $200.11.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.70 earnings per share. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.44 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse's dividend payout ratio (DPR) is currently 47.92%.

Insider Activity

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel directly owned 860 shares in the company, valued at $165,575.80. This represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the sale, the insider owned 10,326 shares of the company's stock, valued at $1,841,538.84. This trade represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,154 shares of company stock valued at $1,115,864 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research note on Tuesday, May 12th. Citigroup reduced their price target on shares of Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Barclays reduced their price objective on Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Texas Roadhouse from $200.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company increased their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $194.90.

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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