Hsbc Holdings PLC Increases Stake in Texas Roadhouse, Inc. $TXRH

Hsbc Holdings PLC raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 182.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,906 shares of the restaurant operator’s stock after buying an additional 16,080 shares during the period. Hsbc Holdings PLC’s holdings in Texas Roadhouse were worth $4,115,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Elyxium Wealth LLC purchased a new position in shares of Texas Roadhouse in the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC purchased a new stake in Texas Roadhouse during the fourth quarter worth approximately $31,000. Measured Wealth Private Client Group LLC acquired a new position in Texas Roadhouse in the third quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at approximately $34,000. Finally, TD Private Client Wealth LLC increased its stake in Texas Roadhouse by 137.5% in the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock valued at $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.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,250 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $178.14, for a total transaction of $222,675.00. Following the completion of the sale, the director owned 30,900 shares of the company’s stock, valued at approximately $5,504,526. This represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Sean G. Renfroe sold 426 shares of the 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 sale, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. This trade represents 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. Over the last three months, insiders sold 6,154 shares of company stock worth $1,115,864. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $193.27 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $200.11. The company has a 50-day simple moving average of $181.84 and a 200-day simple moving average of $177.36. The company has a market capitalization of $12.70 billion, a PE ratio of 30.87, a P/E/G ratio of 2.11 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.Texas Roadhouse’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.70 earnings per share. Equities research analysts predict that Texas Roadhouse, Inc. will post 6.45 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio (DPR) is 47.92%.

Analyst Ratings Changes

TXRH has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Texas Roadhouse from $200.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Stifel Nicolaus boosted their target price on Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Morgan Stanley reissued an “overweight” rating and issued a $201.00 target price on shares of Texas Roadhouse in a research report on Friday, May 8th. Guggenheim restated a “buy” rating and set a $210.00 price target on shares of Texas Roadhouse in a research note on Monday, May 18th. Finally, Citigroup cut their price target on Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $194.90.

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.