Elevation Point Wealth Partners LLC Buys New Position in Texas Roadhouse, Inc. $TXRH

Elevation Point Wealth Partners LLC purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,682 shares of the restaurant operator’s stock, valued at approximately $608,000.

Several other large investors have also added to or reduced their stakes in TXRH. Elyxium Wealth LLC purchased a new stake in shares of Texas Roadhouse in the 4th quarter worth about $25,000. Princeton Global Asset Management LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter valued at about $31,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Texas Roadhouse during the third quarter valued at about $33,000. Garton & Associates Financial Advisors LLC bought a new position in Texas Roadhouse in the fourth quarter worth about $34,000. Finally, TD Private Client Wealth LLC lifted its holdings in Texas Roadhouse by 137.5% in the fourth quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator’s stock worth $44,000 after buying an additional 154 shares during the period. Institutional investors own 94.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Guggenheim reiterated a “buy” rating and set a $210.00 target price on shares of Texas Roadhouse in a report on Monday, May 18th. Wells Fargo & Company lowered their target price on Texas Roadhouse from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Stifel Nicolaus upped 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. BMO Capital Markets increased their price objective on Texas Roadhouse from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Thursday, May 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $196.36.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $187.03 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The stock has a market cap of $12.29 billion, a P/E ratio of 29.88, a P/E/G ratio of 2.03 and a beta of 0.78. The business’s 50 day moving average price is $175.87 and its 200-day moving average price is $175.45. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $197.00.

Texas Roadhouse (NASDAQ:TXRH) last posted its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company earned $1.70 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.42 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Texas Roadhouse’s payout ratio is currently 47.92%.

Insider Transactions at Texas Roadhouse

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the sale, the general counsel directly owned 860 shares in the company, valued at approximately $165,575.80. This trade represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lloyd Paul Marshall sold 1,000 shares of Texas Roadhouse stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total transaction of $178,340.00. Following the completion of the transaction, the insider directly owned 10,326 shares of the company’s stock, valued at $1,841,538.84. This trade represents a 8.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,154 shares of company stock worth $1,115,864 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.