Evolve Private Wealth LLC Takes $1.07 Million Position in Texas Roadhouse, Inc. $TXRH

Evolve Private Wealth LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,517 shares of the restaurant operator’s stock, valued at approximately $1,066,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC purchased a new position in Texas Roadhouse in the fourth quarter valued at about $25,000. Basecamp Wealth Advisors LLC raised its stake in shares of Texas Roadhouse by 5,033.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Silvant Capital Management LLC acquired a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $32,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Texas Roadhouse in the 3rd quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Texas Roadhouse in the 4th quarter valued at approximately $34,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 3,000 shares of the business’s 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 completion of the transaction, the director owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. The trade was a 10.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the stock in a transaction that occurred 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 sale, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,745 shares of company stock valued at $3,998,338 in the last quarter. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $204.48 on Monday. 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 firm has a fifty day simple moving average of $195.26 and a 200-day simple moving average of $180.16. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.02 and a beta of 0.79. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The business 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%. Texas Roadhouse’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.86 EPS. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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

Analyst Upgrades and Downgrades

TXRH has been the topic of several recent research reports. Robert W. Baird set a $235.00 price objective on shares of Texas Roadhouse in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $235.00 price target on shares of Texas Roadhouse in a research note on Monday, August 3rd. BTIG Research raised their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Ten analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Texas Roadhouse has a consensus rating of “Hold” and an average 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.