Hsbc Holdings PLC Purchases Shares of 17,452 Texas Roadhouse, Inc. $TXRH

Hsbc Holdings PLC acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 17,452 shares of the restaurant operator’s stock, valued at approximately $3,385,000.

Several other institutional investors also recently modified their holdings of TXRH. Elyxium Wealth LLC acquired a new stake in Texas Roadhouse in the 4th quarter valued at about $25,000. Basecamp Wealth Advisors LLC increased its position 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 buying an additional 151 shares during the last quarter. Silvant Capital Management LLC bought a new stake in Texas Roadhouse in the second quarter valued at approximately $32,000. Measured Wealth Private Client Group LLC bought a new stake in Texas Roadhouse in the third quarter valued at approximately $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in shares of Texas Roadhouse in the fourth quarter valued at approximately $34,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TXRH. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $235.00 target price on shares of Texas Roadhouse in a research note on Monday, August 3rd. BTIG Research raised their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 7th. Benchmark reaffirmed a “hold” rating on shares of Texas Roadhouse in a research report on Monday, August 10th. Morgan Stanley reiterated an “overweight” rating and issued a $212.00 price objective on shares of Texas Roadhouse in a report on Friday, August 7th. Finally, UBS Group increased their price objective on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $208.48.

Insider Buying and Selling

In related news, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total value of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lloyd Paul Marshall sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $204.65, for a total transaction of $102,325.00. Following the transaction, the insider directly owned 9,826 shares in the company, valued at approximately $2,010,890.90. This represents a 4.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,396 shares of company stock valued at $4,143,825 in the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH opened at $198.99 on Friday. The firm has a market cap of $13.06 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $216.30. The business’s 50 day moving average is $198.20 and its 200-day moving average is $180.76.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $1.86 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share 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 given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s payout ratio is presently 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.