Park Presidio Capital LLC Invests $102.98 Million in Texas Roadhouse, Inc. $TXRH

Park Presidio Capital LLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 532,925 shares of the restaurant operator’s stock, valued at approximately $102,977,000. Texas Roadhouse comprises about 5.8% of Park Presidio Capital LLC’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds have also bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at $25,000. Basecamp Wealth Advisors LLC grew its stake in Texas Roadhouse by 5,033.3% during the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 151 shares during the period. Silvant Capital Management LLC acquired a new stake in Texas Roadhouse during the second quarter worth approximately $32,000. Measured Wealth Private Client Group LLC bought a new stake in Texas Roadhouse in the third quarter worth approximately $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new position in Texas Roadhouse in the fourth quarter valued at approximately $34,000. Institutional investors own 94.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total transaction of $624,960.00. Following the completion of the sale, the director directly owned 26,900 shares in the company, valued at approximately $5,603,808. This represents a 10.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,246 shares of company stock valued at $3,908,907. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

TXRH has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Robert W. Baird set a $235.00 price objective on shares of Texas Roadhouse in a research note on Friday, August 7th. Piper Sandler boosted their target price on shares of Texas Roadhouse from $192.00 to $208.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Barclays cut their target price on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup raised their price target on shares of Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Texas Roadhouse currently has a consensus rating of “Hold” and an average target price of $208.48.

Texas Roadhouse Stock Up 0.4%

Shares of NASDAQ:TXRH opened at $205.29 on Tuesday. The business’s 50 day simple moving average is $196.02 and its two-hundred day simple moving average is $180.31. The firm has a market cap of $13.48 billion, a P/E ratio of 32.85, a PEG ratio of 2.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

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

About Texas Roadhouse

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.