Park Avenue Securities LLC Makes New $878,000 Investment in Texas Roadhouse, Inc. $TXRH

Park Avenue Securities LLC purchased a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,287 shares of the restaurant operator’s stock, valued at approximately $878,000.

A number of other institutional investors have also made changes to their positions in the business. KLP Kapitalforvaltning AS increased its position in Texas Roadhouse by 1.4% during the third quarter. KLP Kapitalforvaltning AS now owns 14,400 shares of the restaurant operator’s stock worth $2,393,000 after acquiring an additional 200 shares during the period. Sather Financial Group Inc grew its position in Texas Roadhouse by 9.5% during the third quarter. Sather Financial Group Inc now owns 2,026 shares of the restaurant operator’s stock worth $337,000 after buying an additional 176 shares in the last quarter. SteelPeak Wealth LLC increased its stake in Texas Roadhouse by 37.3% during the third quarter. SteelPeak Wealth LLC now owns 11,003 shares of the restaurant operator’s stock valued at $1,828,000 after acquiring an additional 2,990 shares during the period. Invesco LLC raised its holdings in Texas Roadhouse by 4.5% in the 3rd quarter. Invesco LLC now owns 2,086 shares of the restaurant operator’s stock valued at $347,000 after acquiring an additional 89 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Texas Roadhouse by 37.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 81 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TXRH. Truist Financial boosted their price objective on Texas Roadhouse from $195.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Sanford C. Bernstein set a $185.00 price target on shares of Texas Roadhouse in a report on Wednesday, January 7th. Wells Fargo & Company raised shares of Texas Roadhouse from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $170.00 to $195.00 in a report on Wednesday, December 17th. Wall Street Zen lowered shares of Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, Morgan Stanley lowered their price target on Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Insiders Place Their Bets

In other news, Director Hugh J. Carroll sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $167.27, for a total value of $167,270.00. Following the transaction, the director directly owned 1,854 shares in the company, valued at $310,118.58. This trade represents a 35.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory N. Moore sold 1,400 shares of Texas Roadhouse stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total value of $238,000.00. Following the sale, the director directly owned 32,150 shares of the company’s stock, valued at approximately $5,465,500. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Stock Up 0.9%

Texas Roadhouse stock opened at $189.74 on Wednesday. The business’s 50-day simple moving average is $170.80 and its 200 day simple moving average is $173.34. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 2.95 and a beta of 0.89. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last released its 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). Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.4%. Texas Roadhouse’s dividend payout ratio (DPR) is presently 41.59%.

About Texas Roadhouse

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.