Janney Montgomery Scott LLC Purchases 1,866 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Janney Montgomery Scott LLC increased its stake in Texas Roadhouse by 22.0%, owning a total of 10,365 shares valued at $1,943,000 after purchasing 1,866 shares in the second quarter.
• Analysts have given Texas Roadhouse a consensus rating of "Moderate Buy" with a target price averaging around $196.00, although some firms have recently cut their price targets.
• Texas Roadhouse announced a quarterly dividend of $0.68, leading to an annualized yield of 1.7%, with a dividend payout ratio of 41.53%.

Janney Montgomery Scott LLC raised its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 22.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,365 shares of the restaurant operator's stock after purchasing an additional 1,866 shares during the period. Janney Montgomery Scott LLC's holdings in Texas Roadhouse were worth $1,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in TXRH. Park Avenue Securities LLC raised its position in shares of Texas Roadhouse by 11.6% in the 1st quarter. Park Avenue Securities LLC now owns 5,854 shares of the restaurant operator's stock worth $976,000 after acquiring an additional 607 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Texas Roadhouse by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 16,730 shares of the restaurant operator's stock worth $2,788,000 after acquiring an additional 92 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Texas Roadhouse by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 1,951 shares of the restaurant operator's stock worth $325,000 after acquiring an additional 271 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Texas Roadhouse by 344.7% in the 1st quarter. Fifth Third Bancorp now owns 2,317 shares of the restaurant operator's stock worth $386,000 after acquiring an additional 1,796 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in shares of Texas Roadhouse by 11.7% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 118,390 shares of the restaurant operator's stock worth $19,727,000 after acquiring an additional 12,367 shares in the last quarter. 94.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. The Goldman Sachs Group reduced their target price on Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. reduced their target price on Texas Roadhouse from $200.00 to $182.00 and set a "neutral" rating on the stock in a research report on Tuesday. Evercore ISI lowered Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 target price on the stock. in a research report on Thursday, September 4th. Finally, Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.00.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $163.33 on Friday. The company has a market cap of $10.85 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. The stock's 50 day simple moving average is $169.88 and its 200-day simple moving average is $176.82. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.79 EPS. Texas Roadhouse's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $0.68 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares in the company, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the sale, the chief technology officer directly owned 17,553 shares of the company's stock, valued at $3,026,137.20. This trade represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by company insiders.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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