1832 Asset Management L.P. Sells 12,124 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• 1832 Asset Management L.P. reduced its stake in Texas Roadhouse by 29.3%, selling 12,124 shares, leaving them with a total of 29,290 shares valued at approximately $4.88 million.
• Institutional investors and hedge funds now hold 94.82% of Texas Roadhouse's stock, with significant increases in holdings from various firms, including Brooklyn Investment Group which boosted its stake by 478.6% in the first quarter.
• Texas Roadhouse recently announced a quarterly dividend of $0.68 per share, with an annualized yield of 1.5%, reflecting a payout ratio of 41.53%.

1832 Asset Management L.P. decreased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,290 shares of the restaurant operator's stock after selling 12,124 shares during the quarter. 1832 Asset Management L.P.'s holdings in Texas Roadhouse were worth $4,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brooklyn Investment Group boosted its holdings in Texas Roadhouse by 478.6% in the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 134 shares in the last quarter. Bogart Wealth LLC acquired a new stake in shares of Texas Roadhouse in the first quarter worth about $33,000. Coppell Advisory Solutions LLC boosted its stake in shares of Texas Roadhouse by 56.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after acquiring an additional 71 shares in the last quarter. Park Place Capital Corp boosted its stake in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after acquiring an additional 303 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Guggenheim boosted their price objective on shares of Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Citigroup upped their price objective on shares of Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Stephens lifted their target price on shares of Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Finally, Melius Research raised shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $197.85.

Texas Roadhouse Trading Up 2.0%

TXRH opened at $177.33 on Monday. The business has a 50 day moving average of $184.28 and a 200-day moving average of $178.78. The stock has a market capitalization of $11.78 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 2.42 and a beta of 0.86. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. Texas Roadhouse's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.79 earnings per share. Equities analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse's dividend payout ratio is currently 41.53%.

Insider Activity

In related news, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total value of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares in the company, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the sale, the director directly owned 34,550 shares in the company, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,342 shares of company stock valued at $1,443,704. Insiders own 0.50% of the company's stock.

Texas Roadhouse Profile

Texas Roadhouse, Inc, together with its subsidiaries, operates casual dining restaurants in the United States and internationally. It also operates and franchises restaurants under the Texas Roadhouse, Bubba's 33, and Jaggers names in 49 states and ten internationally. Texas Roadhouse, Inc was founded in 1993 and is based in Louisville, Kentucky.

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