Palisade Capital Management LP Takes Position in Texas Roadhouse, Inc. $TXRH

Palisade Capital Management LP bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 49,028 shares of the restaurant operator’s stock, valued at approximately $9,474,000.

Other large investors have also added to or reduced their stakes in the company. &PARTNERS lifted its stake in Texas Roadhouse by 3.5% in the fourth quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock valued at $302,000 after buying an additional 61 shares during the period. Fifth Third Bancorp grew its position in shares of Texas Roadhouse by 11.6% during the 4th quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator’s stock worth $107,000 after buying an additional 67 shares during the period. Glenmede Trust Co. NA grew its position in shares of Texas Roadhouse by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock worth $300,000 after buying an additional 68 shares during the period. Beacon Investment Advisors LLC increased its stake in shares of Texas Roadhouse by 1.4% in the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $886,000 after acquiring an additional 72 shares in the last quarter. Finally, Compound Planning Inc. increased its stake in shares of Texas Roadhouse by 5.6% in the 4th quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator’s stock valued at $234,000 after acquiring an additional 75 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Analyst Ratings Changes

TXRH has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. UBS Group lifted their price target on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Citigroup upped their price objective on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Guggenheim reissued a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a research report on Monday, May 18th. Finally, Mizuho raised their target price on Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Texas Roadhouse presently has a consensus rating of “Hold” and a consensus price target of $208.48.

Texas Roadhouse Trading Down 1.0%

NASDAQ:TXRH opened at $203.28 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The firm has a 50-day moving average of $196.72 and a 200-day moving average of $180.44. The company has a market cap of $13.34 billion, a PE ratio of 32.52, a PEG ratio of 2.03 and a beta of 0.79. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business posted $1.86 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Sean G. Renfroe sold 426 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the sale, the general counsel directly owned 860 shares of the company’s stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 19,246 shares of company stock valued at $3,908,907. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Company 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.