Summitry LLC Grows Stock Position in Texas Roadhouse, Inc. $TXRH

Summitry LLC increased its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 32.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,899 shares of the restaurant operator’s stock after buying an additional 711 shares during the quarter. Summitry LLC’s holdings in Texas Roadhouse were worth $543,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of Texas Roadhouse by 22.8% in the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 58 shares during the period. Advisory Alpha LLC raised its position in Texas Roadhouse by 3.0% in the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock worth $344,000 after purchasing an additional 60 shares during the period. Dakota Wealth Management raised its position in Texas Roadhouse by 3.8% in the 2nd quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator’s stock worth $314,000 after purchasing an additional 61 shares during the period. Smartleaf Asset Management LLC lifted its stake in Texas Roadhouse by 14.0% in the first quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator’s stock worth $103,000 after purchasing an additional 74 shares during the last quarter. Finally, Insight Wealth Partners LLC boosted its position in shares of Texas Roadhouse by 4.3% during the second quarter. Insight Wealth Partners LLC now owns 1,855 shares of the restaurant operator’s stock valued at $348,000 after buying an additional 76 shares during the period. Institutional investors own 94.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TXRH. JPMorgan Chase & Co. reduced their price target on Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Truist Financial decreased their target price on Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Zacks Research lowered shares of Texas Roadhouse from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus upped their price target on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a “hold” rating in a report on Friday, July 25th. Finally, Guggenheim reiterated a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.95.

Texas Roadhouse Stock Down 0.4%

Shares of NASDAQ:TXRH opened at $167.35 on Friday. The firm has a 50 day moving average of $167.11 and a 200 day moving average of $178.03. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.03). The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $0.68 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse’s payout ratio is currently 41.59%.

Insider Buying and Selling at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the sale, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer directly owned 17,553 shares in the company, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is currently owned by insiders.

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.