SteelPeak Wealth LLC Buys New Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

SteelPeak Wealth LLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,618 shares of the restaurant operator's stock, valued at approximately $1,107,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $155,239,000. Congress Asset Management Co. boosted its position in shares of Texas Roadhouse by 8,956.4% during the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock worth $77,596,000 after purchasing an additional 460,537 shares in the last quarter. FMR LLC increased its holdings in shares of Texas Roadhouse by 44.8% in the 4th quarter. FMR LLC now owns 1,300,987 shares of the restaurant operator's stock valued at $234,737,000 after purchasing an additional 402,465 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Texas Roadhouse by 255.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 520,352 shares of the restaurant operator's stock valued at $93,888,000 after purchasing an additional 373,812 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Texas Roadhouse by 19,250.9% in the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after purchasing an additional 323,415 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TXRH shares. Barclays lowered their target price on shares of Texas Roadhouse from $179.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus reduced their price objective on Texas Roadhouse from $172.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on Texas Roadhouse from $185.00 to $184.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Guggenheim raised their price target on Texas Roadhouse from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday. Finally, UBS Group boosted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.52.

Insider Buying and Selling

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the sale, the director owned 38,050 shares of the company's stock, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 800 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the sale, the director owned 4,632 shares of the company's stock, valued at $863,960.64. This represents a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Up 0.9%

Shares of NASDAQ:TXRH traded up $1.71 during midday trading on Friday, reaching $188.09. The company's stock had a trading volume of 619,692 shares, compared to its average volume of 936,375. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. The business has a 50 day moving average price of $188.81 and a 200 day moving average price of $178.74. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.05). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.69 EPS. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 3rd were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, June 3rd. Texas Roadhouse's dividend payout ratio (DPR) is 41.98%.

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.