Texas Roadhouse Sees Major Stake Increases from Investors

News Summary

In recent developments, Texas Roadhouse has attracted significant investments from various institutional investors, highlighted by Jefferies Financial Group’s massive 730.2% stake boost. Other firms like Bessemer Group and Comerica Bank are also increasing their holdings. Despite some insider selling, the majority of shares remain with institutional investors. Texas Roadhouse has received favorable ratings from brokers, with an average target price of $196.85. The company reported promising quarterly earnings and declared a dividend, showcasing its robust performance in the market.

Exciting Developments for Texas Roadhouse in Q1 2023

In the heart of Texas, there’s some thrilling news swirling around Texas Roadhouse. It seems that Jefferies Financial Group has made a *big move* by boosting its stake in the beloved restaurant chain by a staggering 730.2% in the first quarter of 2023. Just imagine the buzz at the table – they now own 17,060 shares after snagging an additional 15,005 shares. At the close of this reporting period, Jefferies’ investments in Texas Roadhouse tallied up to a sweet $2,843,000.

But wait, there’s more! Other institutional investors are also jumping on the Texas Roadhouse bandwagon. Bessemer Group has upped its stake by 4.3%, accruing 176,065 shares, valued at around $31,768,000 after acquiring 7,301 additional shares. Meanwhile, Golden State Wealth Management LLC is not holding back either, increasing its holdings by a whopping 157.3% to now own 4,658 shares worth $776,000.

Comerica Bank is stepping it up too, making its move with a 16.0% increase, bringing its total to 132,914 shares valued at about $23,982,000 after purchasing 18,339 additional shares. Wealth Enhancement Advisory Services LLC is in the action as well, growing its stake by a staggering 253.5% to hold 38,086 shares, valued at $6,346,000 after acquiring 27,312 shares. New player Brighton Jones LLC even entered the scene with a fresh investment worth $499,000. With institutional investors now owning roughly 94.82% of the company’s shares, it’s a clear indicator that *everyone* loves Texas Roadhouse!

Some Insider Selling

However, not all the news is about buying; there’s been a bit of selling too. Director Donna E. Epps sold 800 shares at an average price of $186.52, totaling approximately $149,216. This sale marked a 14.73% dip in her ownership, leaving her with 4,632 shares valued at around $863,960.64. Similarly, Director Gregory N. Moore let go of 1,000 shares at an average price of $187.62, totaling $187,620, leading to a 2.56% decrease in his holdings.

Speaking of ownership, corporate insiders currently hold about 0.50% of Texas Roadhouse stock, which means the majority is still firmly in the hands of institutional investors.

Market Buzz and Ratings

As the excitement continues, Texas Roadhouse has garnered some attention from brokerage ratings. Deutsche Bank reaffirmed a *buy* rating recently, joining Guggenheim, which raised its price target from $200.00 to $210.00 while maintaining a *buy* rating as well. However, Wells Fargo is taking a more conservative approach by decreasing their price target from $175.00 to $170.00 with an *equal weight* rating. New players like Melius have entered the spotlight too, initiating coverage with a *buy* rating and a price target of $235.00.

With all that said, Texas Roadhouse currently holds a *Moderate Buy* rating with an average target price of $196.85 according to the latest stats. As of August 8th, stocks opened at $182.97, sporting a market cap of $12.14 billion. The company, which operates casual dining restaurants, reported a price-to-earnings ratio of 28.24 and a PEG ratio of 2.58 recently, adding to its impressive profile.

Looking Ahead

In its latest quarterly earnings, Texas Roadhouse reported earnings per share of $1.70, which fell shy of estimates by $0.05. They didn’t disappoint on revenue, bringing in about $1.45 billion, slightly surpassing expectations with a year-over-year increase of 11.8%. The excitement doesn’t stop there; Texas Roadhouse declared a quarterly dividend of $0.68 with a yield of 1.5%, surely something to cheer about for investors.

Founded in 1993 and based in Louisville, Kentucky, Texas Roadhouse continues to bring its flavorful American dining experience both across the U.S. and internationally under the Texas Roadhouse, Bubba’s 33, and Jaggers brands. With such a vibrant mix of investments and a rapidly evolving market, it’s safe to say that Texas Roadhouse is *cooking up* something good for all its loyal patrons and shareholders alike!

Deeper Dive: News & Info About This Topic

• MarketBeat: Jefferies Financial Group Inc. Buys 15,005 Shares of Texas Roadhouse Inc.
• AOL: Olive Garden and Texas Roadhouse Chasing Market Share
• Eat This: Texas Roadhouse Named Top Chain
• Google Search: Texas Roadhouse
• Ceres Courier: Texas Roadhouse in Modesto
• Wikipedia: Texas Roadhouse