Oppenheimer Asset Management Inc. Makes New $2.23 Million Investment in Texas Roadhouse, Inc. $TXRH

Oppenheimer Asset Management Inc. purchased a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,531 shares of the restaurant operator’s stock, valued at approximately $2,228,000.

Several other large investors have also recently made changes to their positions in the business. Evergreen Capital Management LLC boosted its stake in shares of Texas Roadhouse by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 3,644 shares of the restaurant operator’s stock valued at $605,000 after purchasing an additional 60 shares in the last quarter. &PARTNERS raised its position in Texas Roadhouse by 3.5% in the 4th quarter. &PARTNERS now owns 1,820 shares of the restaurant operator’s stock worth $302,000 after purchasing an additional 61 shares during the period. Fifth Third Bancorp lifted its stake in Texas Roadhouse by 11.6% in the fourth quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator’s stock worth $107,000 after purchasing an additional 67 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Texas Roadhouse by 3.9% during the first quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator’s stock valued at $300,000 after buying an additional 68 shares during the period. Finally, Beacon Investment Advisors LLC grew its stake in shares of Texas Roadhouse by 1.4% during the fourth quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator’s stock valued at $886,000 after buying an additional 72 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Christopher C. Colson sold 499 shares of Texas Roadhouse stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the sale, the insider owned 14,500 shares of the company’s stock, valued at approximately $2,598,690. The trade was a 3.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the business’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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,925 shares of company stock valued at $796,409. Corporate insiders own 0.50% of the company’s stock.

Texas Roadhouse Price Performance

Shares of Texas Roadhouse stock opened at $207.10 on Monday. The business has a 50 day moving average of $191.57 and a 200 day moving average of $179.44. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $216.30. The company has a market cap of $13.59 billion, a PE ratio of 33.14, a P/E/G ratio of 2.05 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 earnings per share. As a group, equities research analysts forecast that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current year.

Texas Roadhouse Announces Dividend

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 given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 1st. Texas Roadhouse’s dividend payout ratio (DPR) is currently 48.00%.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Texas Roadhouse from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. TD Cowen boosted their price objective on Texas Roadhouse from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 target price on shares of Texas Roadhouse in a report on Monday, August 3rd. Barclays lowered their price target on shares of Texas Roadhouse from $188.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Mizuho raised their price target on shares of Texas Roadhouse from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.