Elevation Point Wealth Partners LLC Acquires Shares of 2,876 Texas Roadhouse, Inc. $TXRH

Elevation Point Wealth Partners LLC acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,876 shares of the restaurant operator’s stock, valued at approximately $556,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Texas Roadhouse during the second quarter valued at about $1,273,173,000. AQR Capital Management LLC lifted its position in shares of Texas Roadhouse by 27.4% in the fourth quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator’s stock worth $443,901,000 after buying an additional 575,685 shares in the last quarter. Capital World Investors lifted its position in shares of Texas Roadhouse by 13.4% in the fourth quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator’s stock worth $421,190,000 after buying an additional 300,405 shares in the last quarter. UBS Group AG boosted its stake in Texas Roadhouse by 60.4% during the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator’s stock valued at $230,317,000 after buying an additional 522,509 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Texas Roadhouse by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator’s stock valued at $226,984,000 after buying an additional 24,834 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Texas Roadhouse Trading Up 0.4%

NASDAQ TXRH opened at $205.29 on Tuesday. The company’s 50-day moving average price is $196.02 and its 200-day moving average price is $180.31. The company has a current ratio of 0.46, a quick ratio of 0.39 and a debt-to-equity ratio of 0.03. The stock has a market cap of $13.48 billion, a PE ratio of 32.85, a PEG ratio of 2.02 and a beta of 0.79. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS. Equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current 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 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s payout ratio is 48.00%.

Wall Street Analyst Weigh In

TXRH has been the topic of a number of research reports. TD Cowen lifted their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BMO Capital Markets increased their price objective on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, May 21st. Wells Fargo & Company lifted their price objective on shares of Texas Roadhouse from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Stephens boosted their price objective on shares of Texas Roadhouse from $180.00 to $205.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, BTIG Research raised their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $208.48.

Insider Transactions at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 15,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer owned 80,970 shares of the company’s stock, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the transaction, the director 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. Insiders have sold a total of 19,246 shares of company stock valued at $3,908,907 over the last 90 days. 0.50% of the stock is 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.