Castleark Management LLC Has $6.84 Million Stock Holdings in Texas Roadhouse, Inc. $TXRH

Castleark Management LLC increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 53.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,410 shares of the restaurant operator’s stock after purchasing an additional 14,490 shares during the quarter. Castleark Management LLC’s holdings in Texas Roadhouse were worth $6,838,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TXRH. Waverly Advisors LLC boosted its holdings in shares of Texas Roadhouse by 54.5% in the first quarter. Waverly Advisors LLC now owns 3,376 shares of the restaurant operator’s stock valued at $558,000 after buying an additional 1,191 shares during the period. Entropy Technologies LP increased its position in shares of Texas Roadhouse by 12.4% during the first quarter. Entropy Technologies LP now owns 16,152 shares of the restaurant operator’s stock worth $2,667,000 after acquiring an additional 1,788 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Texas Roadhouse during the first quarter worth $7,864,000. Public Employees Retirement System of Ohio raised its holdings in shares of Texas Roadhouse by 101.3% during the first quarter. Public Employees Retirement System of Ohio now owns 43,207 shares of the restaurant operator’s stock worth $7,135,000 after acquiring an additional 21,743 shares during the period. Finally, Compound Planning Inc. lifted its position in Texas Roadhouse by 23.5% in the 1st quarter. Compound Planning Inc. now owns 1,739 shares of the restaurant operator’s stock valued at $287,000 after acquiring an additional 331 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 1,250 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $178.14, for a total transaction of $222,675.00. Following the sale, the director owned 30,900 shares in the company, valued at approximately $5,504,526. This represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lloyd Paul Marshall sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $178.34, for a total value of $178,340.00. Following the transaction, the insider directly owned 10,326 shares of the company’s stock, valued at $1,841,538.84. This trade represents a 8.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,154 shares of company stock worth $1,115,864 over the last three months. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Piper Sandler lifted their price target on Texas Roadhouse from $190.00 to $192.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Royal Bank Of Canada upgraded Texas Roadhouse from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $180.00 to $210.00 in a report on Friday, May 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Texas Roadhouse presently has an average rating of “Hold” and an average target price of $194.90.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $193.27 on Monday. The stock has a market capitalization of $12.70 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 2.14 and a beta of 0.78. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $200.11. The firm has a fifty day simple moving average of $181.84 and a 200 day simple moving average of $177.38. 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 (NASDAQ:TXRH) last issued its quarterly earnings results 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. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business earned $1.70 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. Research analysts forecast that Texas Roadhouse, Inc. will post 6.45 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Texas Roadhouse 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.