Glenview Trust Co Purchases Shares of 47,420 Texas Roadhouse, Inc. $TXRH

Key Points

• Glenview Trust Co. acquired 47,420 Texas Roadhouse shares worth approximately $9.16 million, joining several other institutional investors that increased or initiated positions. Institutional investors and hedge funds now own 94.82% of the stock.
• Texas Roadhouse reported quarterly EPS of $1.85, slightly exceeding estimates, while revenue rose 11.1% year over year to $1.68 billion. The company also declared a quarterly dividend of $0.75 per share, representing a 1.5% annualized yield.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $208.48; recent targets range as high as $235. Directors have sold shares recently, with insiders selling 20,396 shares worth about $4.14 million over the past 90 days.

Glenview Trust Co acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 47,420 shares of the restaurant operator's stock, valued at approximately $9,163,000. Glenview Trust Co owned 0.07% of Texas Roadhouse at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Ranger Investment Management L.P. purchased a new position in Texas Roadhouse in the second quarter valued at $21,560,000. Stephens Investment Management Group LLC lifted its holdings in Texas Roadhouse by 98.2% during the 4th 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 last quarter. Callan Family Office LLC purchased a new stake in Texas Roadhouse during the 2nd quarter worth about $1,449,000. Bamco Inc. NY acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth about $60,148,000. Finally, J. Goldman & Co LP acquired a new position in shares of Texas Roadhouse during the 2nd quarter worth about $10,434,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares of the company's stock, valued at approximately $5,603,808. This trade represents a 10.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hugh J. Carroll sold 650 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the transaction, the director owned 2,883 shares in the company, valued at $588,103.17. This trade represents a 18.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 20,396 shares of company stock valued at $4,143,825. Insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $200.12 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The firm has a market cap of $13.14 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.02 and a beta of 0.79. The company's 50 day simple moving average is $197.77 and its 200-day simple moving average is $180.63. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month 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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm 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 revenue for the quarter 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 analysts predict that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TXRH shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Wednesday. Stephens upped their price target on Texas Roadhouse from $180.00 to $205.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Royal Bank Of Canada increased their price target on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $235.00 price target on shares of Texas Roadhouse in a research report on Monday, August 3rd. Finally, BMO Capital Markets raised their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a report on Thursday, May 21st. 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 stock. According to data from MarketBeat, Texas Roadhouse currently has an average rating of "Moderate Buy" 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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