Cookson Peirce & Co. Inc. Acquires Shares of 8,792 Texas Roadhouse, Inc. $TXRH

Cookson Peirce & Co. Inc. bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,792 shares of the restaurant operator’s stock, valued at approximately $1,699,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TXRH. Greenleaf Trust purchased a new position in shares of Texas Roadhouse in the 2nd quarter worth about $246,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Texas Roadhouse by 81.1% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,773 shares of the restaurant operator’s stock valued at $42,274,000 after purchasing an additional 97,968 shares during the last quarter. Van ECK Associates Corp grew its position in Texas Roadhouse by 18.4% during the 2nd quarter. Van ECK Associates Corp now owns 61,904 shares of the restaurant operator’s stock valued at $11,962,000 after purchasing an additional 9,627 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in Texas Roadhouse by 1.7% during the 2nd quarter. Braun Stacey Associates Inc. now owns 136,144 shares of the restaurant operator’s stock valued at $26,307,000 after purchasing an additional 2,255 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Texas Roadhouse by 8.4% in the second quarter. Wellington Management Group LLP now owns 1,541,791 shares of the restaurant operator’s stock worth $297,920,000 after buying an additional 119,803 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Price Performance

TXRH opened at $198.99 on Monday. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.97 and a beta of 0.79. The firm has a 50 day moving average price of $198.20 and a 200-day moving average price of $180.71. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $216.30. 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 (NASDAQ:TXRH) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.86 earnings per share. Equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is 48.00%.

Analyst Upgrades and Downgrades

TXRH has been the topic of several analyst reports. TD Cowen upped their target price on shares of Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Stephens boosted their price objective on shares of Texas Roadhouse from $180.00 to $205.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Texas Roadhouse in a research report on Monday, August 3rd. Mizuho increased their target price on Texas Roadhouse from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company boosted their price target on Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.48.

Insider Buying and Selling

In related news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the completion of the sale, the director owned 4,042 shares of the company’s stock, valued at $834,915.52. The trade was a 16.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hugh J. Carroll sold 650 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the sale, the director owned 2,883 shares of the company’s stock, valued at approximately $588,103.17. This trade represents a 18.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,396 shares of company stock valued at $4,143,825 over the last ninety days. 0.50% of the stock is owned by insiders.

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.