Elevation Point Wealth Partners LLC Makes New $556,000 Investment in Texas Roadhouse, Inc. $TXRH

Elevation Point Wealth Partners LLC purchased a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH) during the second quarter, Holdings Channel.com reports. The fund purchased 2,876 shares of the restaurant operator’s stock, valued at approximately $556,000.

Several other hedge funds have also recently modified their holdings of TXRH. Elyxium Wealth LLC purchased a new stake in shares of Texas Roadhouse during the fourth quarter valued at $25,000. Basecamp Wealth Advisors LLC raised its stake in Texas Roadhouse by 5,033.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 154 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Silvant Capital Management LLC acquired a new stake in Texas Roadhouse during the 2nd quarter worth about $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 purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 94.82% of the company’s stock.

Insider Activity

In related news, General Counsel Sean G. Renfroe sold 426 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total value of $82,017.78. Following the completion of the transaction, the general counsel owned 860 shares of the company’s stock, valued at approximately $165,575.80. This represents a 33.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.32, for a total value of $624,960.00. Following the transaction, the director owned 26,900 shares in the company, valued at $5,603,808. This represents a 10.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 19,246 shares of company stock valued at $3,908,907. Insiders own 0.50% of the company’s stock.

Texas Roadhouse Trading Up 0.4%

Shares of NASDAQ:TXRH opened at $205.29 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.39 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 $216.30. The business has a 50 day moving average of $196.02 and a two-hundred day moving average of $180.31. The company has a market capitalization of $13.48 billion, a PE ratio of 32.85, a PEG ratio of 2.02 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH) last announced its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, analysts forecast that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a $0.75 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse’s dividend payout ratio is 48.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Texas Roadhouse in a report on Friday, May 29th. Citigroup lifted their target price on Texas Roadhouse from $193.00 to $209.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Robert W. Baird set a $235.00 price target on shares of Texas Roadhouse in a report on Friday, August 7th. Guggenheim reissued a “buy” rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. Finally, BTIG Research lifted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.