Palisade Capital Management LP Invests $9.47 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• Palisade Capital Management purchased 49,028 Texas Roadhouse shares worth approximately $9.47 million, acquiring a 0.07% stake. Institutional investors collectively own 94.82% of the company.
• Analysts raised several price targets to as high as $235, though the overall consensus remains “Hold” with an average target of $208.48.
• Texas Roadhouse exceeded quarterly earnings and revenue expectations, reporting $1.85 EPS and $1.68 billion in revenue, while announcing a $0.75 quarterly dividend yielding approximately 1.5% annually.

Palisade Capital Management LP purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 49,028 shares of the restaurant operator's stock, valued at approximately $9,474,000. Palisade Capital Management LP owned approximately 0.07% of Texas Roadhouse at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new position in Texas Roadhouse during the 4th quarter worth approximately $25,000. Basecamp Wealth Advisors LLC boosted its position in Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator's stock valued at $25,000 after buying an additional 151 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in Texas Roadhouse in the second quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Texas Roadhouse during the third quarter worth $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Texas Roadhouse during the fourth quarter worth $34,000. 94.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXRH shares. Royal Bank Of Canada increased their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. UBS Group increased their target price on Texas Roadhouse from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Stephens lifted their price target on Texas Roadhouse from $180.00 to $205.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $235.00 price target on shares of Texas Roadhouse in a research note on Monday, August 3rd. Finally, Robert W. Baird set a $235.00 price objective on Texas Roadhouse in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $208.48.

Texas Roadhouse Stock Performance

NASDAQ TXRH opened at $203.28 on Wednesday. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 2.03 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $216.30. The stock has a fifty day simple moving average of $196.72 and a 200 day simple moving average of $180.44.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 EPS. Sell-side analysts expect that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Announces Dividend

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

Insider Buying and Selling

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director owned 26,900 shares of the company's stock, valued at approximately $5,603,808. This represents a 10.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer owned 80,970 shares of the company's stock, valued at approximately $16,369,704.90. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 19,246 shares of company stock valued at $3,908,907. Insiders own 0.50% of the company's stock.

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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