SteelPeak Wealth LLC Boosts Holdings in Texas Roadhouse, Inc. $TXRH

SteelPeak Wealth LLC grew its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) by 37.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,003 shares of the restaurant operator’s stock after acquiring an additional 2,990 shares during the quarter. SteelPeak Wealth LLC’s holdings in Texas Roadhouse were worth $1,828,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Caldwell Trust Co purchased a new stake in Texas Roadhouse in the second quarter valued at approximately $28,000. Salomon & Ludwin LLC boosted its holdings in shares of Texas Roadhouse by 37.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 299 shares of the restaurant operator’s stock valued at $50,000 after purchasing an additional 81 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at $53,000. Bogart Wealth LLC grew its stake in shares of Texas Roadhouse by 51.5% during the 2nd quarter. Bogart Wealth LLC now owns 303 shares of the restaurant operator’s stock valued at $57,000 after buying an additional 103 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Texas Roadhouse by 22.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 312 shares of the restaurant operator’s stock worth $59,000 after buying an additional 58 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXRH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Texas Roadhouse from $200.00 to $182.00 and set a “neutral” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Texas Roadhouse in a report on Monday. Zacks Research lowered Texas Roadhouse from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company upgraded Texas Roadhouse from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $170.00 to $195.00 in a report on Wednesday, December 17th. Finally, Truist Financial cut their price target on shares of Texas Roadhouse from $210.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.26.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Hugh J. Carroll sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $167.27, for a total transaction of $167,270.00. Following the completion of the sale, the director directly owned 1,854 shares of the company’s stock, valued at approximately $310,118.58. This trade represents a 35.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory N. Moore sold 1,400 shares of Texas Roadhouse stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $170.00, for a total transaction of $238,000.00. Following the sale, the director directly owned 32,150 shares in the company, valued at $5,465,500. This trade represents a 4.17% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

Texas Roadhouse Price Performance

Shares of TXRH opened at $171.36 on Friday. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $199.99. The stock has a market cap of $11.34 billion, a PE ratio of 26.20, a P/E/G ratio of 2.62 and a beta of 0.89. The stock’s 50-day moving average is $168.71 and its two-hundred day moving average is $173.94.

Texas Roadhouse (NASDAQ:TXRH) last announced its earnings results on Thursday, November 6th. The restaurant operator reported $1.25 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.03). The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Texas Roadhouse had a net margin of 7.49% and a return on equity of 30.59%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. On average, research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, December 2nd. Texas Roadhouse’s payout ratio is presently 41.59%.

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.