WCM Investment Management LLC Raises Stock Position in Texas Roadhouse, Inc. $TXRH

WCM Investment Management LLC grew its position in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 7.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,387 shares of the restaurant operator’s stock after buying an additional 9,287 shares during the period. WCM Investment Management LLC’s holdings in Texas Roadhouse were worth $22,138,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC purchased a new position in Texas Roadhouse in the fourth quarter worth approximately $25,000. Princeton Global Asset Management LLC acquired a new position in shares of Texas Roadhouse in the 4th quarter valued at $31,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Texas Roadhouse during the 3rd quarter worth $33,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Texas Roadhouse during the 4th quarter worth $34,000. Finally, TD Private Client Wealth LLC increased its position in shares of Texas Roadhouse by 137.5% during the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $44,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Shares of TXRH stock opened at $197.03 on Monday. The company has a market cap of $12.95 billion, a P/E ratio of 31.47, a PEG ratio of 2.11 and a beta of 0.78. The firm has a fifty day moving average price of $180.54 and a 200 day moving average price of $176.53. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $200.11.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.07. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. Texas Roadhouse’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Sell-side analysts predict that Texas Roadhouse, Inc. will post 6.44 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 47.92%.

Insider Buying and Selling at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the transaction, the general counsel owned 860 shares of the company’s stock, valued at $165,575.80. This trade represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 1,250 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total value of $222,675.00. Following the completion of the transaction, the director owned 30,900 shares in the company, valued at $5,504,526. This trade represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,154 shares of company stock valued at $1,115,864. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Thursday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $201.00 target price on shares of Texas Roadhouse in a research note on Friday, May 8th. Barclays dropped their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Citigroup decreased their price objective on shares of Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $194.90.

About Texas Roadhouse

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.