14,303 Shares of Texas Roadhouse, Inc. $TXRH Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP bought 14,303 Texas Roadhouse shares in the third quarter, valued at approximately $2.24 million. Institutional investors collectively own 94.82% of the company’s stock.
• Texas Roadhouse reported quarterly revenue of $1.57 billion, up 9.5% year over year, but earnings of $1.36 per share fell short of analyst expectations of $1.46. The company declared a $0.75 quarterly dividend.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $208.04.

CenterBook Partners LP purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 14,303 shares of the restaurant operator's stock, valued at approximately $2,236,000.

A number of other large investors also recently bought and sold shares of the business. Ranger Investment Management L.P. bought a new position in Texas Roadhouse during the 2nd quarter valued at approximately $21,560,000. The Manufacturers Life Insurance Company purchased a new position in Texas Roadhouse during the second quarter valued at $9,473,000. J. Goldman & Co LP purchased a new position in Texas Roadhouse during the second quarter valued at $10,434,000. Bamco Inc. NY purchased a new position in Texas Roadhouse during the second quarter valued at $60,148,000. Finally, Callan Family Office LLC bought a new stake in Texas Roadhouse in the second quarter worth $1,449,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

Texas Roadhouse Price Performance

Shares of TXRH opened at $183.88 on Monday. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $216.30. The company has a market capitalization of $12.07 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. The firm has a 50 day moving average of $172.73 and a 200 day moving average of $179.06. The company has a quick ratio of 0.39, a current ratio of 0.38 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The restaurant operator reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.10). Texas Roadhouse had a net margin of 6.59% and a return on equity of 27.01%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the company posted $1.25 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.40 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse's dividend payout ratio (DPR) is presently 48.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TXRH. Jefferies Financial Group raised Texas Roadhouse from a "hold" rating to a "buy" rating and increased their target price for the stock from $186.00 to $190.00 in a research note on Wednesday, October 14th. Wells Fargo & Company lowered their price target on Texas Roadhouse from $230.00 to $220.00 and set an "overweight" rating for the company in a research report on Friday. Robert W. Baird raised Texas Roadhouse to a "strong-buy" rating in a research report on Monday, August 24th. KeyCorp reiterated a "sector weight" rating on shares of Texas Roadhouse in a research note on Friday, October 2nd. Finally, Benchmark raised shares of Texas Roadhouse from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.04.

Trending Headlines about Texas Roadhouse

Here are the key news stories impacting Texas Roadhouse this week:

• Positive Sentiment: Same-store sales increased 4.3% and revenue rose 9.5% year over year to $1.57 billion, showing continued growth. The company also declared a quarterly dividend of $0.75 per share. Third-quarter results and dividend announcement
• Neutral Sentiment: Analyst views were mixed: Bank of America and TD Cowen raised their targets, while Wells Fargo, RBC, Morgan Stanley, and BMO lowered theirs. Several firms nevertheless maintained positive ratings, and Citigroup raised its target while keeping a neutral rating. Morgan Stanley rating and target update
• Negative Sentiment: Adjusted earnings were $1.36 per share, below analysts’ roughly $1.46–$1.49 estimates, while revenue of $1.57 billion also narrowly missed expectations. Reports pointed to softer traffic, tempering the otherwise solid year-over-year sales growth. Q3 earnings and revenue miss

Insider Transactions at Texas Roadhouse

In other news, CEO Gerald Morgan sold 15,000 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer directly owned 80,970 shares of the company's stock, valued at $16,369,704.90. This represents a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh Carroll sold 650 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the sale, the director directly owned 2,883 shares in the company, valued at $588,103.17. This trade represents a 18.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 19,970 shares of company stock valued at $4,061,808. Insiders own 0.50% of the company's stock.

Texas Roadhouse Company Profile

Texas Roadhouse, Inc operates and franchises casual dining restaurants under the Texas Roadhouse, Bubba's 33 and Jaggers brands. Its restaurants are known for a lively atmosphere and made-from-scratch food.

The Texas Roadhouse menu features hand-cut steaks, ribs, chicken, seafood and made-from-scratch sides, along with freshly baked bread. Bubba's 33 offers a sports-bar setting with items such as burgers, pizza and wings, while Jaggers focuses on burgers, chicken sandwiches and salads.

Founded in 1993 in Clarksville, Indiana, Texas Roadhouse is headquartered in Louisville, Kentucky.

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