News Summary
Recent developments in the investment landscape involving Texas Roadhouse, Inc. reveal a significant decrease in Truist Financial Corp’s stake. While Truist sold 10.9% of its shares, other firms like Brooklyn Investment Group and Park Place Capital Corp have increased their holdings. Texas Roadhouse’s stock performance remains strong, with a market cap of $11.06 billion and a recent quarterly earnings report showing a revenue growth of 12.7%. The company also declared a quarterly dividend, showcasing its commitment to investors amidst mixed analyst ratings.
Texas Financial Scene Gets a Shake-Up
In the Lone Star State, big changes are happening in the world of investments, especially when it comes to Texas Roadhouse, Inc. Yes, the beloved chain known for its hearty steaks and warm bread with cinnamon butter is in the spotlight. Recent filings show that Truist Financial Corp has elected to decrease its stake in this popular restaurant by a solid 10.9% during the second quarter. That’s right, Truist trimmed back its holdings by selling 5,324 shares, leaving it with about 43,602 shares of Texas Roadhouse. This means Truist’s remaining investment is valued at an impressive $8,172,000, which represents only about 0.07% of the entire company.
Who’s Buying and Selling?
What’s particularly interesting is that while Truist is pulling back, other institutional investors are diving in. Take, for instance, the Brooklyn Investment Group, which ramped up its stake by a jaw-dropping 478.6% in the first quarter. After this savvy move, they now own 162 shares valued at about $27,000. And they’re not the only ones getting in on the Texas Roadhouse action. Bogart Wealth LLC purchased a new stake worth $33,000, while WPG Advisers LLC jumped in with another new stake valued at $59,000.
Farther Finance Advisors LLC raised its position by 22.8% in the second quarter, now holding 312 shares valued at $59,000. Meanwhile, Park Place Capital Corp showed its confidence by significantly increasing its holdings by 459.1% in the first quarter, now boasting 369 shares valued at $61,000. Can you believe that a whopping 94.82% of Texas Roadhouse’s stock is now owned by hedge funds and institutional investors? That’s a lot of trust in a chain known for its delicious baby back ribs!
Stock Performance Overview
So, how is Texas Roadhouse performing on the stock market? Recently, shares opened at $166.49, giving the company a market cap of $11.06 billion. With a price-to-earnings ratio of 25.42 and a price-to-earnings-growth ratio of 2.28, investors are keeping a keen eye on this dining giant. Over the past year, Texas Roadhouse stock has seen both ups and downs, with a low of $148.73 and a high of $206.04. Today, its 50-day moving average sits at $171.82, while the 200-day moving average is at $177.14.
Latest Earnings Report
Earlier in August, Texas Roadhouse unveiled its quarterly earnings. It posted earnings per share (EPS) of $1.86, but unfortunately, this was below analysts’ predictions of $1.95 EPS. Despite this slight hitch, the company’s revenue soared to $1.51 billion, surpassing the consensus forecast of $1.50 billion, marking a year-over-year increase of 12.7%.
Dividends and Future Predictions
Texas Roadhouse continues to reward its investors as it declared a quarterly dividend of $0.68 per share, with payment scheduled for September 30th. That brings the annualized dividend to $2.72, giving it a pleasant yield of 1.6%. Notably, the payout ratio stands at 41.53%, illustrating a balanced approach towards profits and reinvestment. Industry analysts are predicting an EPS of 7.23 for the current year, which certainly keeps the prospects exciting for aficionados of this iconic chain.
Analyst Ratings: A Mixed Bag
When it comes to analyst sentiments, there’s a variety of opinions on Texas Roadhouse. Goldman Sachs has adjusted its target price from $200.00 down to $180.00 while maintaining a “neutral” rating. However, Weiss Ratings has reaffirmed a solid “buy (b)” rating, among others that retain their “buy” ratings with a target of $212.00. Notably, one analyst rated the stock as a “Strong Buy,” while the consensus target stands at $196.10. Quite promising, isn’t it?
The Texas Roadhouse story continues to unfold, with changes in ownership stakes, a strong performance in revenues, and dividends that keep investors engaged. Stay tuned as we keep our eyes on this sizzling enterprise!
Deeper Dive: News & Info About This Topic
- MarketBeat: Truist Financial Corp Reduces Position in Texas Roadhouse, Inc.
- WGAL: Texas Roadhouse Hosts Fundraiser to Support York County Officers
- Cleveland.com: Texas Roadhouse Set to Open at Great Northern Mall
- Community Impact: Texas Roadhouse to Open in Leander This November
- Wikipedia: Texas Roadhouse
Author: STAFF HERE HOUSTON TX WRITER
HOUSTON STAFF WRITER The HOUSTON STAFF WRITER represents the experienced team at HEREHouston.com, your go-to source for actionable local news and information in Houston, Harris County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Houston Livestock Show and Rodeo, Art Car Parade, and Chevron Houston Marathon. Our coverage extends to key organizations like the Greater Houston Partnership and Houston Area Urban League, plus leading businesses in energy and healthcare that power the local economy such as ExxonMobil, Schlumberger, and Houston Methodist. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
