Paragon Financial Partners Inc. Takes Position in Texas Roadhouse, Inc. $TXRH

Paragon Financial Partners Inc. bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, HoldingsChannel reports. The institutional investor bought 5,818 shares of the restaurant operator’s stock, valued at approximately $1,195,000. Texas Roadhouse comprises about 0.6% of Paragon Financial Partners Inc.’s holdings, making the stock its 22nd largest holding.

Several other large investors have also made changes to their positions in TXRH. Evergreen Capital Management LLC boosted its holdings in Texas Roadhouse by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator’s stock valued at $605,000 after acquiring an additional 60 shares during the last quarter. &PARTNERS raised its holdings in Texas Roadhouse by 3.5% during the 4th quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock worth $302,000 after purchasing an additional 61 shares during the last quarter. Fifth Third Bancorp raised its holdings in 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 purchasing an additional 67 shares during the last quarter. Glenmede Trust Co. NA lifted its position in Texas Roadhouse by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock valued at $300,000 after purchasing an additional 68 shares during the period. Finally, Beacon Investment Advisors LLC lifted its position in Texas Roadhouse by 1.4% during the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $886,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Stock Down 1.3%

Shares of NASDAQ:TXRH opened at $204.40 on Tuesday. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a market capitalization of $13.42 billion, a PE ratio of 32.70, a PEG ratio of 2.05 and a beta of 0.79. The company has a 50 day moving average price of $192.30 and a two-hundred day moving average price of $179.57.

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 the consensus estimate of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 earnings per share. Analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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

Insider Buying and Selling

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the transaction, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction dated 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 transaction, the general counsel directly owned 860 shares of the company’s stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,925 shares of company stock valued at $796,409. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TXRH shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research note on Monday, August 10th. Wells Fargo & Company lifted their target price on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Mizuho lifted their target price on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Piper Sandler upped their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $208.48.

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.