Sequoia Financial Advisors LLC Takes $501,000 Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Sequoia Financial Advisors LLC acquired a new stake in Texas Roadhouse, Inc., purchasing 2,675 shares valued at approximately $501,000 during the 2nd quarter.
• Texas Roadhouse's stock has seen increased activity from institutional investors, with 94.82% of the company's stock now held by these investors.
• The company recently announced a quarterly dividend of $0.68 per share, representing a dividend yield of 1.5% and a payout ratio of 41.53%.

Sequoia Financial Advisors LLC acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,675 shares of the restaurant operator's stock, valued at approximately $501,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TXRH. Brooklyn Investment Group grew its holdings in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after purchasing an additional 134 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of Texas Roadhouse during the 1st quarter valued at $33,000. Ameritas Advisory Services LLC bought a new position in shares of Texas Roadhouse during the 2nd quarter valued at $53,000. WPG Advisers LLC bought a new position in shares of Texas Roadhouse during the 1st quarter valued at $59,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Texas Roadhouse by 22.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator's stock valued at $59,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 94.82% of the company's stock.

Insider Transactions at Texas Roadhouse

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

Analyst Ratings Changes

Several research firms recently commented on TXRH. Barclays increased their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. The Goldman Sachs Group cut their price target on shares of Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. Melius Research raised shares of Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Bank of America raised their price target on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Texas Roadhouse from $200.00 to $182.00 and set a "neutral" rating on the stock in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.25.

Texas Roadhouse Trading Up 0.9%

NASDAQ:TXRH opened at $179.07 on Tuesday. The company has a 50-day moving average price of $169.07 and a 200-day moving average price of $177.11. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 2.63 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its 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 return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the business posted $1.79 earnings per share. The company's revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts forecast 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. Stockholders of record on Tuesday, September 2nd were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is currently 41.53%.

Texas Roadhouse Company 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.

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