Van ECK Associates Corp Buys 9,627 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Van ECK Associates increased its Texas Roadhouse stake by 18.4% in the second quarter, purchasing 9,627 shares for a total holding of 61,904 shares valued at approximately $12.0 million. Institutional investors collectively own 94.82% of the company.
• Texas Roadhouse exceeded quarterly expectations, reporting $1.85 in EPS and $1.68 billion in revenue, with revenue rising 11.1% year over year. The company declared a quarterly dividend of $0.75 per share, equal to a 1.5% annual yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $208.48. Shares opened at $195.60, while several insiders sold stock during the past 90 days.

Van ECK Associates Corp grew its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 18.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,904 shares of the restaurant operator's stock after buying an additional 9,627 shares during the period. Van ECK Associates Corp owned 0.09% of Texas Roadhouse worth $11,962,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ranger Investment Management L.P. purchased a new stake in shares of Texas Roadhouse in the second quarter worth $21,560,000. Stephens Investment Management Group LLC lifted its stake in shares of Texas Roadhouse by 98.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 370,225 shares of the restaurant operator's stock valued at $61,457,000 after buying an additional 183,422 shares in the last quarter. J. Goldman & Co LP bought a new position in Texas Roadhouse in the 2nd quarter worth $10,434,000. Callan Family Office LLC bought a new position in Texas Roadhouse in the 2nd quarter worth $1,449,000. Finally, Bamco Inc. NY purchased a new stake in Texas Roadhouse in the 2nd quarter worth $60,148,000. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Down 1.7%

Shares of TXRH stock opened at $195.60 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30. The stock's 50-day moving average price is $198.51 and its 200-day moving average price is $180.80.

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

Texas Roadhouse Dividend Announcement

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

Insider Activity

In related news, insider Lloyd Paul Marshall sold 500 shares of the firm's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the transaction, the insider directly owned 9,826 shares of the company's stock, valued at approximately $2,010,890.90. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was 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 in the company, valued at $5,603,808. This represents a 10.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 corporate insiders.

Analyst Ratings Changes

TXRH has been the topic of a number of recent analyst reports. TD Cowen raised their price target on Texas Roadhouse from $205.00 to $230.00 and gave the company a "buy" rating in a report on Friday, August 7th. Wall Street Zen upgraded Texas Roadhouse from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Wells Fargo & Company lifted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Piper Sandler boosted their price target on Texas Roadhouse from $192.00 to $208.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. upped their price target on Texas Roadhouse from $182.00 to $188.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.48.

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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