Hsbc Holdings PLC Sells 7,454 Shares of Texas Roadhouse, Inc. $TXRH

Hsbc Holdings PLC lowered its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 29.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,452 shares of the restaurant operator's stock after selling 7,454 shares during the quarter. Hsbc Holdings PLC's holdings in Texas Roadhouse were worth $3,385,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Texas Roadhouse by 8.4% during the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator's stock worth $297,920,000 after purchasing an additional 119,803 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Texas Roadhouse in the second quarter worth about $368,000. Glenview Trust Co purchased a new position in Texas Roadhouse in the 2nd quarter worth about $9,163,000. United Capital Financial Advisors LLC purchased a new position in Texas Roadhouse in the 2nd quarter worth about $394,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in Texas Roadhouse during the 2nd quarter valued at about $260,000. Institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TXRH shares. Royal Bank Of Canada upped their target price on shares of Texas Roadhouse from $210.00 to $235.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a "market perform" rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. boosted their price target on Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. Robert W. Baird raised Texas Roadhouse to a "strong-buy" rating in a research note on Monday, August 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $212.00 price objective on shares of Texas Roadhouse in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus target price of $209.40.

Insider Buying and Selling

In other news, Director Hugh J. Carroll sold 650 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the transaction, the director owned 2,883 shares in the company, valued at $588,103.17. This represents a 18.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares of the company's stock, valued at $16,369,704.90. The trade was a 15.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,396 shares of company stock valued at $4,143,825 in the last 90 days. 0.50% of the stock is owned by insiders.

Texas Roadhouse Trading Up 1.0%

Shares of NASDAQ:TXRH opened at $181.05 on Friday. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30. The business's fifty day simple moving average is $197.85 and its 200-day simple moving average is $181.02. The company has a market capitalization of $11.88 billion, a PE ratio of 28.97, a P/E/G ratio of 1.77 and a beta of 0.78. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03.

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. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the business earned $1.86 EPS. The company's revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse's dividend payout ratio is currently 48.00%.

About Texas Roadhouse

Texas Roadhouse, Inc is a casual-dining restaurant company that operates and franchises restaurants under the Texas Roadhouse, Bubba's 33 and Jaggers brands. Its restaurants are known for hand-cut steaks, ribs, chicken, burgers and other American-style meals, along with made-from-scratch sides and fresh-baked bread.

Texas Roadhouse restaurants generally emphasize a relaxed, family-friendly atmosphere and an experience centered on affordable, high-quality food. The company's concepts include Texas Roadhouse steakhouses, Bubba's 33 sports-themed restaurants and Jaggers fast-casual locations focused on burgers, chicken and fries.

Founded in 1993, Texas Roadhouse has expanded through a combination of company-operated and franchised restaurants.

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