Man Group plc Invests $7.55 Million in Texas Roadhouse, Inc. $TXRH

Man Group plc purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 39,086 shares of the restaurant operator's stock, valued at approximately $7,553,000. Man Group plc owned about 0.06% of Texas Roadhouse at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new position in Texas Roadhouse in the 2nd quarter valued at $5,730,000. J. Goldman & Co LP bought a new position in Texas Roadhouse during the 2nd quarter worth $10,434,000. Hsbc Holdings PLC bought a new position in Texas Roadhouse during the 2nd quarter worth $3,385,000. Palisade Capital Management LP acquired a new stake in shares of Texas Roadhouse during the second quarter worth $9,474,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Texas Roadhouse during the second quarter worth $1,275,000. 94.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TXRH. BMO Capital Markets upped 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of Texas Roadhouse in a research note on Wednesday. BTIG Research boosted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, August 7th. Barclays cut their price objective on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Finally, Stifel Nicolaus raised their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.48.

Insider Buying and Selling

In other news, Director Donna E. Epps sold 820 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the transaction, the director directly owned 4,042 shares in the company, valued at approximately $834,915.52. The trade was a 16.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hugh J. Carroll sold 650 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $203.99, for a total transaction of $132,593.50. Following the sale, the director directly owned 2,883 shares of the company's stock, valued at approximately $588,103.17. This trade represents a 18.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 20,396 shares of company stock worth $4,143,825. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Stock Performance

NASDAQ:TXRH opened at $198.99 on Friday. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.97 and a beta of 0.79. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The stock has a fifty day moving average price of $198.20 and a 200-day moving average price of $180.76.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.Texas Roadhouse's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.86 earnings per share. As a group, equities analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

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

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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