MidFirst Bank Purchases New Shares in Texas Roadhouse, Inc. $TXRH

MidFirst Bank acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,273 shares of the restaurant operator’s stock, valued at approximately $1,539,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Texas Roadhouse by 580.2% during the 3rd quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator’s stock valued at $371,658,000 after purchasing an additional 1,908,033 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Texas Roadhouse in the third quarter valued at $157,310,000. Wellington Management Group LLP increased its position in shares of Texas Roadhouse by 228.4% during the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator’s stock valued at $220,623,000 after buying an additional 924,306 shares during the period. Norges Bank bought a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $145,734,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Texas Roadhouse by 770.6% in the third quarter. Victory Capital Management Inc. now owns 972,251 shares of the restaurant operator’s stock worth $161,540,000 after buying an additional 860,571 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and issued a $201.00 price target on shares of Texas Roadhouse in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on Texas Roadhouse from $182.00 to $188.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Guggenheim reiterated a “buy” rating and issued a $210.00 target price on shares of Texas Roadhouse in a research report on Monday, May 18th. Finally, Stifel Nicolaus lifted their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $196.36.

Insider Transactions at Texas Roadhouse

In related news, Director Curtis Warfield sold 2,640 shares of Texas Roadhouse stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the completion of the transaction, the director directly owned 5,361 shares of the company’s stock, valued at $981,331.05. This trade represents a 33.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher C. Colson sold 499 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total transaction of $89,430.78. Following the transaction, the insider owned 14,500 shares of the company’s stock, valued at $2,598,690. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 5,728 shares of company stock worth $1,033,847. 0.50% of the stock is owned by insiders.

Texas Roadhouse Price Performance

TXRH stock opened at $177.75 on Friday. The firm’s 50-day moving average price is $169.31 and its two-hundred day moving average price is $173.58. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.94 and a beta of 0.79. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12-month low of $153.82 and a 12-month high of $197.00.

Texas Roadhouse (NASDAQ:TXRH) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. As a group, equities analysts predict that Texas Roadhouse, Inc. will post 6.42 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse’s dividend payout ratio is presently 47.92%.

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.