Marks Group Wealth Management Inc Has $6.35 Million Stock Position in Texas Roadhouse, Inc. $TXRH

Marks Group Wealth Management Inc reduced its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,446 shares of the restaurant operator’s stock after selling 5,289 shares during the period. Marks Group Wealth Management Inc owned approximately 0.06% of Texas Roadhouse worth $6,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC grew its position in Texas Roadhouse by 12.0% in the first quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator’s stock valued at $404,000 after acquiring an additional 259 shares during the period. Focus Partners Wealth lifted its holdings in shares of Texas Roadhouse by 23.3% during the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator’s stock valued at $1,020,000 after acquiring an additional 1,157 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Texas Roadhouse by 36.0% during 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 period. Sivia Capital Partners LLC acquired a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $657,000. Finally, Marshall Wace LLP acquired a new stake in shares of Texas Roadhouse in the 2nd quarter valued at $1,936,000. Institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Stock Performance

Texas Roadhouse stock opened at $189.86 on Thursday. The stock has a 50-day simple moving average of $179.36 and a 200 day simple moving average of $176.14. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $197.00. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 2.02 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. On average, research analysts anticipate that Texas Roadhouse, Inc. will post 6.43 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is 47.92%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TXRH. Wall Street Zen upgraded shares of Texas Roadhouse from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Royal Bank Of Canada raised shares of Texas Roadhouse from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $180.00 to $210.00 in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $201.00 price objective on shares of Texas Roadhouse in a report on Friday, May 8th. BMO Capital Markets lifted their target price on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Eleven equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $195.10.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,250 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $178.14, for a total value of $222,675.00. Following the transaction, the director directly owned 30,900 shares in the company, valued at approximately $5,504,526. This trade represents a 3.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher C. Colson sold 499 shares of Texas Roadhouse stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the sale, the insider directly owned 14,500 shares of the company’s stock, valued at $2,598,690. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 6,154 shares of company stock valued at $1,115,864 over the last quarter. Company insiders own 0.50% of the company’s stock.

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.