Glenview Trust Co Acquires New Position in Texas Roadhouse, Inc. $TXRH

Glenview Trust Co acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 47,420 shares of the restaurant operator’s stock, valued at approximately $9,163,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Texas Roadhouse during the second quarter worth $1,273,173,000. AQR Capital Management LLC raised its position in Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after acquiring an additional 575,685 shares in the last quarter. Capital World Investors lifted its holdings in Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock valued at $421,190,000 after acquiring an additional 300,405 shares during the period. Geode Capital Management LLC lifted its holdings in Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after acquiring an additional 24,834 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 228.4% in the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock valued at $220,623,000 after acquiring an additional 924,306 shares during the period. Institutional investors and hedge funds own 94.82% of the company’s stock.

Texas Roadhouse Trading Down 1.8%

NASDAQ:TXRH opened at $200.12 on Friday. The company has a market capitalization of $13.14 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.02 and a beta of 0.79. 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, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30. The stock has a fifty day simple moving average of $197.77 and a 200-day simple moving average of $180.63.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) 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 the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.86 earnings per share. On average, equities research analysts expect that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse’s payout ratio is currently 48.00%.

Analyst Ratings Changes

TXRH has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $235.00 price target on shares of Texas Roadhouse in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Texas Roadhouse in a research note on Wednesday. Robert W. Baird raised shares of Texas Roadhouse to a “strong-buy” rating in a report on Monday. Barclays reduced their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, Royal Bank Of Canada upped their price target on Texas Roadhouse from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.48.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director owned 26,900 shares of the company’s stock, valued at approximately $5,603,808. This represents a 10.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $202.17, for a total value of $3,032,550.00. Following the sale, the chief executive officer owned 80,970 shares in the company, valued at approximately $16,369,704.90. This trade represents a 15.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 20,396 shares of company stock worth $4,143,825. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Company 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.