Parcion Private Wealth LLC Takes Position in Texas Roadhouse, Inc. $TXRH

Parcion Private Wealth LLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, Holdings Channel.com reports. The firm acquired 1,714 shares of the restaurant operator’s stock, valued at approximately $321,000.

A number of other large investors have also bought and sold shares of TXRH. GAMMA Investing LLC grew its position in Texas Roadhouse by 16.1% in the 1st quarter. GAMMA Investing LLC now owns 1,951 shares of the restaurant operator’s stock valued at $325,000 after purchasing an additional 271 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Texas Roadhouse by 253.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator’s stock valued at $6,346,000 after purchasing an additional 27,312 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Texas Roadhouse by 65.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,499 shares of the restaurant operator’s stock worth $1,416,000 after acquiring an additional 3,352 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Texas Roadhouse by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 7,812 shares of the restaurant operator’s stock worth $1,301,000 after acquiring an additional 205 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Texas Roadhouse by 23.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,065 shares of the restaurant operator’s stock worth $511,000 after acquiring an additional 580 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $178.78 on Thursday. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The stock’s 50-day simple moving average is $169.17 and its 200 day simple moving average is $177.12. The stock has a market capitalization of $11.88 billion, a P/E ratio of 27.29, a P/E/G ratio of 2.64 and a beta of 0.82.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Texas Roadhouse’s payout ratio is currently 41.53%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TXRH. JPMorgan Chase & Co. cut their price objective on shares of Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Bank of America lifted their price objective on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $210.00 target price on shares of Texas Roadhouse in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $195.40.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the transaction, the director owned 34,550 shares of the company’s stock, valued at $5,979,223. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, the chief technology officer directly owned 17,553 shares of the company’s stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,342 shares of company stock worth $1,443,704. Company insiders own 0.50% of the company’s stock.

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.