Legal & General Group Plc Acquires New Holdings in Texas Roadhouse, Inc. $TXRH

Legal & General Group Plc bought a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 87,976 shares of the restaurant operator’s stock, valued at approximately $17,000,000.

Several other large investors also recently added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new stake in shares of Texas Roadhouse in the 4th quarter valued at $25,000. Basecamp Wealth Advisors LLC boosted its holdings in Texas Roadhouse by 5,033.3% in the first 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 position in Texas Roadhouse during the second quarter worth $32,000. Measured Wealth Private Client Group LLC bought a new position in Texas Roadhouse during the third quarter valued at about $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Texas Roadhouse in the fourth quarter worth about $34,000. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Texas Roadhouse

In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at $16,369,704.90. This represents a 15.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna E. Epps sold 820 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $206.56, for a total transaction of $169,379.20. Following the completion of the sale, the director directly owned 4,042 shares of the company’s stock, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,396 shares of company stock valued at $4,143,825 in the last three months. 0.50% of the stock is owned by insiders.

Texas Roadhouse Stock Performance

TXRH opened at $198.99 on Monday. The firm has a market capitalization of $13.06 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The stock’s 50 day moving average price is $198.20 and its two-hundred day moving average price is $180.71. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

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

Analyst Ratings Changes

TXRH has been the subject of several recent analyst reports. Robert W. Baird upgraded Texas Roadhouse to a “strong-buy” rating in a research note on Monday, August 24th. TD Cowen raised their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 7th. UBS Group upped their target price on Texas Roadhouse from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. BMO Capital Markets lifted their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, May 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.