NorthRock Partners LLC Makes New Investment in Texas Roadhouse, Inc. $TXRH

Key Points

• NorthRock Partners LLC has acquired a new position in Texas Roadhouse, Inc., purchasing 1,466 shares valued at approximately $276,000.
• Numerous institutional investors have significantly increased their holdings in Texas Roadhouse, with 94.82% of the stock now owned by hedge funds and other institutional investors.
• Texas Roadhouse recently declared a quarterly dividend of $0.68 per share, representing an annualized yield of 1.6% with a payout ratio of 41.53%.

NorthRock Partners LLC acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,466 shares of the restaurant operator's stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TXRH. GAMMA Investing LLC increased its holdings 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 valued at $325,000 after acquiring an additional 271 shares during the period. Fifth Third Bancorp increased its holdings 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 valued at $386,000 after acquiring an additional 1,796 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Texas Roadhouse by 253.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock valued at $6,346,000 after acquiring an additional 27,312 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Texas Roadhouse by 65.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,499 shares of the restaurant operator's stock valued at $1,416,000 after acquiring an additional 3,352 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in shares of Texas Roadhouse in the 1st quarter valued at $215,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Texas Roadhouse in a report on Wednesday, October 8th. Barclays lifted their price target on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Stephens set a $175.00 target price on Texas Roadhouse in a research note on Monday. Finally, Guggenheim restated a "buy" rating and set a $210.00 target price on shares of Texas Roadhouse in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $195.25.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $172.74 on Friday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The stock's fifty day moving average price is $168.89 and its 200 day moving average price is $176.81. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.55 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the firm earned $1.79 earnings per share. The firm's quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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

Insiders Place Their Bets

In other Texas Roadhouse 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 transaction of $519,180.00. Following the completion of the sale, the director owned 34,550 shares of the company's stock, valued at approximately $5,979,223. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 approximately $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is 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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