SteelPeak Wealth LLC Boosts Stock Position in Texas Roadhouse, Inc. $TXRH

SteelPeak Wealth LLC raised its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 37.3% during the third quarter, HoldingsChannel.com reports. The firm owned 11,003 shares of the restaurant operator’s stock after buying an additional 2,990 shares during the period. SteelPeak Wealth LLC’s holdings in Texas Roadhouse were worth $1,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Texas Roadhouse by 22.8% during the second quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock worth $59,000 after buying an additional 58 shares in the last quarter. Advisory Alpha LLC boosted its stake in Texas Roadhouse by 3.0% during the 1st quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator’s stock valued at $344,000 after acquiring an additional 60 shares during the last quarter. Dakota Wealth Management grew its holdings in Texas Roadhouse by 3.8% during the 2nd quarter. Dakota Wealth Management now owns 1,675 shares of the restaurant operator’s stock worth $314,000 after acquiring an additional 61 shares in the last quarter. Insight Wealth Partners LLC increased its position in shares of Texas Roadhouse by 4.3% in the 2nd quarter. Insight Wealth Partners LLC now owns 1,855 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 76 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Texas Roadhouse by 3.1% in the 2nd quarter. NewEdge Advisors LLC now owns 2,499 shares of the restaurant operator’s stock worth $468,000 after purchasing an additional 76 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Trading Up 3.2%

NASDAQ:TXRH opened at $171.36 on Friday. The firm has a market capitalization of $11.34 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. The stock has a 50 day moving average of $168.71 and a 200-day moving average of $173.94. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $199.99.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). Texas Roadhouse had a return on equity of 30.59% and a net margin of 7.49%.The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $1.26 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse’s payout ratio is 41.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TXRH shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a research report on Monday. Morgan Stanley cut their price objective on Texas Roadhouse from $210.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Wall Street Zen lowered Texas Roadhouse from a “hold” rating to a “sell” rating in a research report on Saturday. Stephens lowered their price target on Texas Roadhouse from $175.00 to $168.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, The Goldman Sachs Group dropped their price target on Texas Roadhouse from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.26.

Insider Activity

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,400 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $170.00, for a total transaction of $238,000.00. Following the completion of the transaction, the director directly owned 32,150 shares of the company’s stock, valued at $5,465,500. The trade was a 4.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hugh J. Carroll sold 1,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the transaction, the director owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. This trade represents a 35.04% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

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.