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Texas Roadhouse, Inc. (NASDAQ:TXRH) Is Redwood Investments LLC's 7th Largest Position

Financial News Live · Sep 24, 2022 14:02

Redwood Investments LLC boosted its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH – Get Rating) by 15.2% in the 2nd quarter, Holdings Channel reports. The fund owned 310,526 shares of the restaurant operator's stock after buying an additional 40,968 shares during the period. Texas Roadhouse makes up 2.5% of Redwood Investments LLC's investment portfolio, making the stock its 7th largest position. Redwood Investments LLC's holdings in Texas Roadhouse were worth $22,731,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXRH. Red Spruce Capital LLC increased its position in shares of Texas Roadhouse by 0.8% in the first quarter. Red Spruce Capital LLC now owns 21,697 shares of the restaurant operator's stock valued at $1,817,000 after buying an additional 166 shares in the last quarter. GPM Growth Investors Inc. increased its position in shares of Texas Roadhouse by 0.7% in the second quarter. GPM Growth Investors Inc. now owns 27,319 shares of the restaurant operator's stock valued at $2,000,000 after buying an additional 190 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Texas Roadhouse by 0.4% in the fourth quarter. MetLife Investment Management LLC now owns 58,266 shares of the restaurant operator's stock valued at $5,202,000 after buying an additional 204 shares in the last quarter. Meritage Portfolio Management increased its position in shares of Texas Roadhouse by 8.9% in the first quarter. Meritage Portfolio Management now owns 2,865 shares of the restaurant operator's stock valued at $240,000 after buying an additional 235 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Texas Roadhouse by 92.7% in the first quarter. CENTRAL TRUST Co now owns 578 shares of the restaurant operator's stock valued at $48,000 after buying an additional 278 shares in the last quarter. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

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Texas Roadhouse Trading Down 2.4 %

Shares of Texas Roadhouse stock traded down $2.04 during trading hours on Friday, hitting $84.38. The company's stock had a trading volume of 872,715 shares, compared to its average volume of 662,482. Texas Roadhouse, Inc. has a twelve month low of $68.58 and a twelve month high of $97.43. The firm has a fifty day moving average of $88.93 and a 200-day moving average of $82.54. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.62 and a beta of 0.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.47 and a current ratio of 0.53.

Texas Roadhouse (NASDAQ:TXRH – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The restaurant operator reported $1.07 EPS for the quarter, beating the consensus estimate of $1.03 by $0.04. Texas Roadhouse had a return on equity of 24.45% and a net margin of 6.71%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company's quarterly revenue was up 14.0% on a year-over-year basis. Research analysts forecast that Texas Roadhouse, Inc. will post 3.83 EPS for the current year.

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Wednesday, September 7th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Tuesday, September 6th. Texas Roadhouse's dividend payout ratio (DPR) is presently 50.27%.

Insider Activity

In other news, Director Gregory N. Moore sold 2,000 shares of the company's stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $86.59, for a total value of $173,180.00. Following the transaction, the director now owns 63,850 shares of the company's stock, valued at approximately $5,528,771.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Gerald L. Morgan sold 3,338 shares of the business's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $90.01, for a total value of $300,453.38. Following the sale, the chief executive officer now owns 87,874 shares in the company, valued at approximately $7,909,538.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory N. Moore sold 2,000 shares of the business's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $86.59, for a total value of $173,180.00. Following the completion of the sale, the director now owns 63,850 shares in the company, valued at approximately $5,528,771.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,922 shares of company stock valued at $1,739,455 in the last quarter. Insiders own 4.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TXRH shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Texas Roadhouse from $91.00 to $97.00 in a research report on Friday, July 29th. UBS Group dropped their price target on Texas Roadhouse from $108.00 to $104.00 in a research report on Tuesday, July 26th. Morgan Stanley boosted their price target on Texas Roadhouse from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 16th. Wedbush dropped their price target on Texas Roadhouse from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Friday, July 29th. Finally, StockNews.com cut Texas Roadhouse from a "buy" rating to a "hold" rating in a research report on Friday, June 10th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.81.

Texas Roadhouse Profile

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Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. The company operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names. As of December 28, 2021, it operated 566 domestic restaurants and 101 franchise restaurants.