SummitTX Capital L.P. Takes $3.79 Million Position in Texas Roadhouse, Inc. $TXRH

SummitTX Capital L.P. acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 22,930 shares of the restaurant operator’s stock, valued at approximately $3,787,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings in shares of Texas Roadhouse by 12.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock worth $404,000 after acquiring an additional 259 shares during the last quarter. Focus Partners Wealth grew its position in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock worth $1,020,000 after acquiring an additional 1,157 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator’s stock valued at $70,000 after acquiring an additional 111 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Texas Roadhouse during the second quarter valued at about $657,000. Finally, Marshall Wace LLP purchased a new stake in Texas Roadhouse during the second quarter valued at about $1,936,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $201.04 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. The business’s 50 day simple moving average is $182.32 and its two-hundred day simple moving average is $177.54. The stock has a market capitalization of $13.21 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 2.14 and a beta of 0.78. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $201.69.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Analysts forecast that Texas Roadhouse, Inc. will post 6.45 EPS for the current year.

Texas Roadhouse Announces Dividend

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

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of research reports. BMO Capital Markets upped 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. Guggenheim reissued a “buy” rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Monday, May 18th. Citigroup decreased their price objective on Texas Roadhouse from $176.00 to $174.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. TD Cowen boosted their target price on Texas Roadhouse from $192.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Texas Roadhouse from $200.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Ten equities 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, Texas Roadhouse currently has a consensus rating of “Hold” and an average target price of $194.90.

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, General Counsel Sean G. Renfroe sold 426 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the transaction, the general counsel owned 860 shares in the company, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jane Grote Abell sold 339 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $177.43, for a total transaction of $60,148.77. Following the completion of the transaction, the director owned 2,161 shares in the company, valued at $383,426.23. The trade was a 13.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,154 shares of company stock worth $1,115,864 over the last ninety days. 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.