Tributary Capital Management LLC Takes Position in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Tributary Capital Management LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 1st quarter, Holdings Channel.com reports. The firm purchased 1,975 shares of the restaurant operator’s stock, valued at approximately $329,000.

A number of other large investors have also recently made changes to their positions in the stock. Coppell Advisory Solutions LLC raised its holdings in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator’s stock worth $35,000 after purchasing an additional 71 shares in the last quarter. Bogart Wealth LLC purchased a new position in shares of Texas Roadhouse during the 1st quarter valued at approximately $33,000. Park Place Capital Corp lifted its position in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator’s stock valued at $61,000 after buying an additional 303 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Texas Roadhouse by 41.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator’s stock valued at $63,000 after purchasing an additional 112 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in Texas Roadhouse by 153.9% in the 1st quarter. Versant Capital Management Inc now owns 457 shares of the restaurant operator’s stock valued at $76,000 after purchasing an additional 277 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Donna E. Epps sold 800 shares of Texas Roadhouse stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total transaction of $149,216.00. Following the completion of the sale, the director directly owned 4,632 shares of the company’s stock, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory N. Moore sold 1,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $187.62, for a total value of $187,620.00. Following the sale, the director owned 38,050 shares of the company’s stock, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TXRH shares. Citigroup cut Texas Roadhouse from a “buy” rating to a “neutral” rating and lowered their target price for the company from $213.00 to $164.00 in a report on Wednesday, April 23rd. Stephens restated an “equal weight” rating and issued a $170.00 price objective on shares of Texas Roadhouse in a research report on Tuesday, June 10th. Wells Fargo & Company lowered their price objective on Texas Roadhouse from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. UBS Group lifted their target price on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $194.81.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $182.58 on Friday. The firm has a market capitalization of $12.11 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.87. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The stock’s 50 day moving average price is $189.87 and its 200 day moving average price is $178.82.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Texas Roadhouse had a return on equity of 32.33% and a net margin of 7.89%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. On average, analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $2.72 annualized dividend and a dividend yield of 1.49%. Texas Roadhouse’s dividend payout ratio is currently 41.98%.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.