Sumitomo Mitsui Trust Group Inc. Buys 8,897 Shares of Texas Roadhouse, Inc. $TXRH

Sumitomo Mitsui Trust Group Inc. bought a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,897 shares of the restaurant operator’s stock, valued at approximately $1,391,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Americana Partners LLC acquired a new position in Texas Roadhouse during the 3rd quarter worth approximately $215,000. State of Wyoming acquired a new position in Texas Roadhouse during the third quarter worth $103,000. Parcion Private Wealth LLC grew its holdings in Texas Roadhouse by 14.8% during the third quarter. Parcion Private Wealth LLC now owns 3,165 shares of the restaurant operator’s stock worth $495,000 after acquiring an additional 409 shares during the period. BOKF NA purchased a new position in Texas Roadhouse in the third quarter worth $1,253,000. Finally, Motley Fool Asset Management LLC lifted its holdings in Texas Roadhouse by 16.6% in the third quarter. Motley Fool Asset Management LLC now owns 1,914 shares of the restaurant operator’s stock valued at $299,000 after acquiring an additional 272 shares during the period. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Down 4.1%

TXRH opened at $183.88 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.99 and a beta of 0.81. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $216.30. The business’s fifty day moving average is $172.73 and its two-hundred day moving average is $179.06.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.10). The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Texas Roadhouse had a net margin of 6.59% and a return on equity of 27.35%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Analysts anticipate that Texas Roadhouse, Inc. will post 6.40 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Tuesday, December 1st will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, December 1st. Texas Roadhouse’s dividend payout ratio is presently 48.00%.

Insider Activity

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the transaction, the director owned 26,900 shares in the company, valued at approximately $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hugh J. Carroll sold 650 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total transaction of $132,593.50. Following the completion of the sale, the director directly owned 2,883 shares in the company, valued at $588,103.17. This trade represents a 18.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,970 shares of company stock worth $4,061,808 in the last three months. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Benchmark upgraded shares of Texas Roadhouse from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Stephens raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and set a $205.00 price objective on the stock in a report on Thursday, October 15th. BTIG Research reissued a “buy” rating on shares of Texas Roadhouse in a report on Friday. Vertical Research upgraded shares of Texas Roadhouse to a “buy” rating in a research report on Wednesday, October 14th. Finally, Robert W. Baird raised shares of Texas Roadhouse to a “strong-buy” rating in a report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.04.

Key Stories Impacting Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

Texas Roadhouse Profile

Texas Roadhouse, Inc operates and franchises casual dining restaurants under the Texas Roadhouse, Bubba’s 33 and Jaggers brands. Its restaurants are known for a lively atmosphere and made-from-scratch food.

The Texas Roadhouse menu features hand-cut steaks, ribs, chicken, seafood and made-from-scratch sides, along with freshly baked bread. Bubba’s 33 offers a sports-bar setting with items such as burgers, pizza and wings, while Jaggers focuses on burgers, chicken sandwiches and salads.

Founded in 1993 in Clarksville, Indiana, Texas Roadhouse is headquartered in Louisville, Kentucky.