36,490 Shares in Texas Roadhouse, Inc. $TXRH Acquired by Castleark Management LLC

Castleark Management LLC purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,490 shares of the restaurant operator’s stock, valued at approximately $7,051,000. Castleark Management LLC owned about 0.06% of Texas Roadhouse at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in shares of Texas Roadhouse during the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC boosted its holdings in Texas Roadhouse by 5,033.3% in the first quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Silvant Capital Management LLC purchased a new stake in Texas Roadhouse in the second quarter valued at $32,000. Measured Wealth Private Client Group LLC acquired a new stake in Texas Roadhouse during the 3rd quarter worth about $33,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Texas Roadhouse during the 4th quarter worth about $34,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Texas Roadhouse Trading Down 1.0%

Shares of NASDAQ:TXRH opened at $203.28 on Wednesday. The business’s 50 day moving average price is $196.72 and its 200-day moving average price is $180.44. Texas Roadhouse, Inc. has a 1 year low of $153.82 and a 1 year high of $216.30. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, topping the consensus estimate 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 was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. On average, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid 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 dividend yield of 1.5%. Texas Roadhouse’s payout ratio is currently 48.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BTIG Research boosted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, August 7th. Piper Sandler raised their target price on Texas Roadhouse from $192.00 to $208.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price target on Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Citigroup boosted their price target on Texas Roadhouse from $193.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, UBS Group upped their price objective on Texas Roadhouse from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $208.48.

Insider Activity at Texas Roadhouse

In related news, General Counsel Sean G. Renfroe sold 426 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $192.53, for a total transaction of $82,017.78. Following the completion of the transaction, the general counsel owned 860 shares in the company, valued at $165,575.80. This represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gerald L. Morgan sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the completion of the transaction, the chief executive officer directly owned 80,970 shares in the company, valued at $16,369,704.90. This represents 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 have sold 19,246 shares of company stock worth $3,908,907 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.