Bank of New York Mellon Corp Cuts Position in Texas Roadhouse, Inc. $TXRH

Bank of New York Mellon Corp cut its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 530,142 shares of the restaurant operator’s stock after selling 14,187 shares during the period. Bank of New York Mellon Corp’s holdings in Texas Roadhouse were worth $87,548,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elyxium Wealth LLC bought a new position in Texas Roadhouse in the 4th quarter valued at $25,000. Princeton Global Asset Management LLC purchased a new stake in shares of Texas Roadhouse during the 4th quarter valued at $31,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Texas Roadhouse during the 3rd quarter worth $33,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Texas Roadhouse during the 4th quarter worth $34,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Texas Roadhouse by 137.5% in the 4th 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 last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of NASDAQ:TXRH opened at $194.31 on Wednesday. The company has a 50 day moving average of $181.01 and a 200 day moving average of $176.93. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. The stock has a market cap of $12.77 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.17 and a beta of 0.78. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $200.11.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 6.45 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, June 2nd. Texas Roadhouse’s payout ratio is presently 47.92%.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $178.14, for a total value of $222,675.00. Following the sale, the director owned 30,900 shares of the company’s stock, valued at $5,504,526. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $178.34, for a total value of $178,340.00. Following the completion of the sale, the insider directly owned 10,326 shares in the company, valued at approximately $1,841,538.84. The trade was a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,154 shares of company stock worth $1,115,864. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TXRH. Morgan Stanley restated an “overweight” rating and set a $201.00 price target on shares of Texas Roadhouse in a research report on Friday, May 8th. Guggenheim reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Texas Roadhouse in a research report on Monday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Stifel Nicolaus increased their target price on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company raised their price target on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $194.90.

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.