Commerce Bank Purchases Shares of 3,362 Texas Roadhouse, Inc. $TXRH

Commerce Bank acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,362 shares of the restaurant operator’s stock, valued at approximately $650,000.

Several other large investors have also recently added to or reduced their stakes in TXRH. Northwestern Mutual Wealth Management Co. acquired a new position in Texas Roadhouse during the 2nd quarter valued at about $89,000. Quantbot Technologies LP acquired a new position in shares of Texas Roadhouse during the second quarter valued at approximately $2,406,000. Evolve Private Wealth LLC bought a new stake in Texas Roadhouse during the second quarter worth approximately $1,066,000. Emerald Investment Advisers LLC bought a new stake in Texas Roadhouse during the second quarter worth approximately $406,000. Finally, Ieq Capital LLC acquired a new stake in Texas Roadhouse in the second quarter worth approximately $24,703,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $203.88 on Thursday. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $216.30. The firm’s 50 day simple moving average is $197.33 and its 200-day simple moving average is $180.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The company has a market cap of $13.38 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.79.

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

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $0.75 dividend. The ex-dividend date 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 is presently 48.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TXRH. Royal Bank Of Canada increased their price target on Texas Roadhouse from $210.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Stifel Nicolaus boosted their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research note on Monday, August 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $212.00 target price on shares of Texas Roadhouse in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.48.

Insiders Place Their Bets

In related news, Director Gregory N. Moore sold 3,000 shares of the 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the sale, the general counsel owned 860 shares of the company’s stock, valued at $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 19,246 shares of company stock worth $3,908,907. 0.50% of the stock is currently 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.