SummitTX Capital L.P. Invests $3.79 Million in Texas Roadhouse, Inc. $TXRH

SummitTX Capital L.P. bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 1st quarter, Holdings Channel reports. The fund bought 22,930 shares of the restaurant operator’s stock, valued at approximately $3,787,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC lifted 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 worth $404,000 after acquiring an additional 259 shares during the period. Focus Partners Wealth increased its position in Texas Roadhouse by 23.3% during the 1st quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after purchasing an additional 1,157 shares during the period. Geneos Wealth Management Inc. increased its position in Texas Roadhouse by 36.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after purchasing an additional 111 shares during the period. Sivia Capital Partners LLC bought a new position in Texas Roadhouse in the 2nd quarter worth $657,000. Finally, Marshall Wace LLP bought a new position in Texas Roadhouse in the 2nd quarter worth $1,936,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 4.0%

Shares of NASDAQ TXRH opened at $201.04 on Tuesday. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $201.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. The firm has a 50-day moving average of $182.32 and a 200 day moving average of $177.54. The stock has a market cap of $13.21 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78.

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

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were paid a $0.75 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Guggenheim reissued a “buy” rating and issued a $210.00 price target on shares of Texas Roadhouse in a research note on Monday, May 18th. Stifel Nicolaus raised their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Texas Roadhouse from $200.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, TD Cowen increased their target price on Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $194.90.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the sale, the general counsel directly owned 860 shares of the company’s stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Curtis Warfield sold 2,640 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $183.05, for a total value of $483,252.00. Following the completion of the sale, the director directly owned 5,361 shares in the company, valued at approximately $981,331.05. This represents a 33.00% 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 quarter. 0.50% of the stock is currently owned by company insiders.

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.