Kaufman Rossin Wealth LLC Invests $379,000 in Texas Roadhouse, Inc. $TXRH

Key Points

• Kaufman Rossin Wealth LLC has invested $379,000 in Texas Roadhouse, acquiring 2,277 shares, as noted in their latest SEC filing.
• Analysts have raised their target prices for Texas Roadhouse significantly, with Morgan Stanley and Bank of America setting targets of $205.00 and $219.00 respectively, indicating a positive outlook.
• Texas Roadhouse declared a quarterly dividend of $0.68, which is set to be paid to shareholders on September 30, reflecting an annualized yield of 1.6%.

Kaufman Rossin Wealth LLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,277 shares of the restaurant operator's stock, valued at approximately $379,000.

Several other institutional investors have also added to or reduced their stakes in the business. Brooklyn Investment Group increased its stake in shares of Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 134 shares in the last quarter. Coppell Advisory Solutions LLC boosted its holdings in Texas Roadhouse by 56.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after buying an additional 71 shares during the period. Bogart Wealth LLC purchased a new position in Texas Roadhouse in the 1st quarter valued at approximately $33,000. Park Place Capital Corp grew its stake in Texas Roadhouse by 459.1% in the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after buying an additional 303 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price target on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. The Goldman Sachs Group raised their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Truist Financial set a $212.00 price target on Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Finally, Bank of America increased their target price on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Texas Roadhouse presently has an average rating of "Moderate Buy" and an average target price of $197.85.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $173.23 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $148.73 and a fifty-two week high of $206.04. The stock has a market cap of $11.51 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.40 and a beta of 0.86. The firm's fifty day moving average price is $184.64 and its 200-day moving average price is $178.89.

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

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.6%. Texas Roadhouse's dividend payout ratio is currently 41.53%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,953 shares of company stock worth $1,215,536 over the last ninety days. Insiders own 0.50% of the company's stock.

Texas Roadhouse Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.