Concentric Capital Strategies LP Purchases New Stake in Texas Roadhouse, Inc. (NASDAQ:TXRH)

Concentric Capital Strategies LP acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,317 shares of the restaurant operator’s stock, valued at approximately $4,824,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Roadhouse during the 2nd quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in Texas Roadhouse in the second quarter valued at approximately $25,000. McClarren Financial Advisors Inc. boosted its stake in Texas Roadhouse by 4,175.0% in the second quarter. McClarren Financial Advisors Inc. now owns 171 shares of the restaurant operator’s stock valued at $29,000 after acquiring an additional 167 shares during the last quarter. True Wealth Design LLC acquired a new stake in Texas Roadhouse during the 3rd quarter worth $30,000. Finally, PSI Advisors LLC raised its position in shares of Texas Roadhouse by 70.8% during the 3rd quarter. PSI Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 75 shares during the last quarter. 94.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Hernan E. Mujica sold 1,500 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $202.26, for a total transaction of $303,390.00. Following the transaction, the chief technology officer now directly owns 16,342 shares in the company, valued at approximately $3,305,332.92. The trade was a 8.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donna E. Epps sold 610 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $195.66, for a total transaction of $119,352.60. Following the sale, the director now directly owns 3,532 shares in the company, valued at $691,071.12. This trade represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Stock Up 0.9 %

Shares of TXRH stock opened at $205.27 on Monday. Texas Roadhouse, Inc. has a 12 month low of $110.88 and a 12 month high of $206.04. The company’s fifty day simple moving average is $187.19 and its 200-day simple moving average is $175.18. The firm has a market cap of $13.69 billion, a PE ratio of 35.27, a P/E/G ratio of 1.75 and a beta of 0.98.

Texas Roadhouse (NASDAQ:TXRH) last issued its quarterly earnings results on Thursday, October 24th. The restaurant operator reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Texas Roadhouse had a return on equity of 31.33% and a net margin of 7.65%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. On average, equities analysts predict that Texas Roadhouse, Inc. will post 6.39 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, December 10th. Texas Roadhouse’s dividend payout ratio (DPR) is 41.92%.

Analyst Ratings Changes

A number of brokerages recently commented on TXRH. Stifel Nicolaus lifted their price objective on Texas Roadhouse from $180.00 to $195.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Bank of America boosted their target price on Texas Roadhouse from $206.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial increased their price target on shares of Texas Roadhouse from $202.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Loop Capital decreased their price objective on shares of Texas Roadhouse from $215.00 to $209.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Evercore ISI increased their target price on shares of Texas Roadhouse from $195.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Texas Roadhouse presently has an average rating of “Hold” and an average price target of $189.00.

About Texas Roadhouse

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.