Commerce Bank Buys Shares of 3,362 Texas Roadhouse, Inc. $TXRH

Commerce Bank purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,362 shares of the restaurant operator’s stock, valued at approximately $650,000.

A number of other hedge funds have also modified their holdings of TXRH. NewEdge Advisors LLC grew its stake in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 259 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Texas Roadhouse by 23.3% during the 1st quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock worth $1,020,000 after purchasing an additional 1,157 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Texas Roadhouse by 36.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock worth $70,000 after purchasing an additional 111 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $657,000. Finally, Marshall Wace LLP acquired a new stake in shares of Texas Roadhouse during the 2nd quarter valued at about $1,936,000. 94.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Barclays cut their price objective on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Piper Sandler lifted their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and issued a $212.00 target price on shares of Texas Roadhouse in a research report on Friday, August 7th. Finally, BMO Capital Markets increased their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Texas Roadhouse has an average rating of “Moderate Buy” and an average price target of $208.48.

Insiders Place Their Bets

In other news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 26,900 shares in the company, valued at $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The sale was disclosed in a filing 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 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 completion of the sale, the general counsel directly owned 860 shares of the company’s stock, valued at $165,575.80. This represents a 33.13% decrease in their ownership of the stock. 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 quarter, insiders sold 19,246 shares of company stock worth $3,908,907. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Up 0.3%

Texas Roadhouse stock opened at $203.88 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The firm has a fifty day moving average price of $197.33 and a two-hundred day moving average price of $180.56. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 2.01 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm’s revenue 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. As a group, analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently announced 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. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

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.