Castleark Management LLC Makes New Investment in Texas Roadhouse, Inc. $TXRH

Castleark Management LLC bought a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 36,490 shares of the restaurant operator’s stock, valued at approximately $7,051,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Nicholas Investment Partners LP acquired a new position in Texas Roadhouse during the second quarter worth about $847,000. Legal & General Group Plc acquired a new stake in Texas Roadhouse in the 2nd quarter valued at about $17,000,000. The Manufacturers Life Insurance Company acquired a new stake in Texas Roadhouse in the 2nd quarter valued at about $9,473,000. Park Presidio Capital LLC acquired a new stake in Texas Roadhouse in the 2nd quarter valued at about $102,977,000. Finally, Visionary Wealth Advisors purchased a new position in Texas Roadhouse in the 2nd quarter worth approximately $4,228,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the transaction, the general counsel owned 860 shares in the company, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gerald L. Morgan sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 80,970 shares in the company, valued at approximately $16,369,704.90. The trade was a 15.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,246 shares of company stock worth $3,908,907 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Down 1.0%

Shares of NASDAQ TXRH opened at $203.28 on Wednesday. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $216.30. 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 fifty day simple moving average of $196.72 and a 200-day simple moving average of $180.44. The stock has a market capitalization of $13.34 billion, a PE ratio of 32.52, a PEG ratio of 2.03 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last posted its earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $1.86 EPS. Texas Roadhouse’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 48.00%.

Analyst Ratings Changes

TXRH has been the topic of several recent research reports. Guggenheim restated a “buy” rating and set a $210.00 target price on shares of Texas Roadhouse in a report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Piper Sandler lifted their price objective on Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $235.00 price objective on shares of Texas Roadhouse in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their target price on Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Ten analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $208.48.

Texas Roadhouse Company 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.