MidFirst Bank Takes $1.45 Million Position in Texas Roadhouse, Inc. $TXRH

MidFirst Bank bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, HoldingsChannel reports. The firm bought 7,525 shares of the restaurant operator’s stock, valued at approximately $1,454,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Texas Roadhouse during the 2nd quarter valued at about $1,273,173,000. Pallas Capital Advisors LLC bought a new position in Texas Roadhouse during the 2nd quarter valued at approximately $1,143,000. Paragon Financial Partners Inc. purchased a new stake in Texas Roadhouse in the 2nd quarter worth approximately $1,195,000. Deutsche Bank AG purchased a new stake in Texas Roadhouse in the 2nd quarter worth approximately $1,792,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Texas Roadhouse in the 2nd quarter worth approximately $66,000. 94.82% of the stock is owned by institutional investors.

Insider Activity at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel directly owned 860 shares of the company’s stock, valued at $165,575.80. This trade represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the completion of the sale, the director owned 26,900 shares of the company’s stock, valued at $5,603,808. The trade was a 10.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,925 shares of company stock valued at $796,409 over the last ninety days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TXRH shares. Piper Sandler boosted their target price on Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Stifel Nicolaus raised their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. TD Cowen lifted their price target on shares of Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $182.00 to $188.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $208.48.

Texas Roadhouse Stock Down 1.3%

Shares of NASDAQ:TXRH opened at $204.40 on Tuesday. The firm has a market capitalization of $13.42 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.05 and a beta of 0.79. 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 stock has a 50 day moving average price of $192.30 and a 200-day moving average price of $179.57. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

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

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.