Strs Ohio Takes Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Strs Ohio purchased 28,400 shares of Texas Roadhouse, valued at approximately $4.73 million, marking a new position for the investment firm.
• The company declared a quarterly dividend of $0.68 per share, with an ex-dividend date of September 2nd, indicating a dividend yield of 1.6%.
• Texas Roadhouse's recent quarterly earnings missed analyst estimates, reporting $1.86 EPS against a consensus of $1.95, despite a year-over-year revenue increase of 12.7%.

Strs Ohio bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,400 shares of the restaurant operator's stock, valued at approximately $4,732,000.

A number of other institutional investors have also recently modified their holdings of TXRH. Cetera Investment Advisers raised its holdings in shares of Texas Roadhouse by 60.4% during the 4th quarter. Cetera Investment Advisers now owns 6,159 shares of the restaurant operator's stock worth $1,111,000 after buying an additional 2,319 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Texas Roadhouse by 123.2% during the 4th quarter. Focus Partners Wealth now owns 4,967 shares of the restaurant operator's stock worth $896,000 after buying an additional 2,742 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Texas Roadhouse by 1.5% during the 4th quarter. Lazard Asset Management LLC now owns 8,316 shares of the restaurant operator's stock worth $1,500,000 after buying an additional 119 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Texas Roadhouse during the 4th quarter worth $1,597,000. Finally, ProShare Advisors LLC raised its holdings in shares of Texas Roadhouse by 7.4% during the 4th quarter. ProShare Advisors LLC now owns 3,121 shares of the restaurant operator's stock worth $563,000 after buying an additional 214 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Trading Up 0.3%

Shares of TXRH traded up $0.47 on Tuesday, reaching $165.61. 1,126,617 shares of the company's stock traded hands, compared to its average volume of 1,017,120. The stock has a market cap of $11.00 billion, a PE ratio of 25.28, a PEG ratio of 2.26 and a beta of 0.84. The stock's 50 day simple moving average is $177.72 and its two-hundred day simple moving average is $178.31. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04.

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

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a $0.68 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. Texas Roadhouse's payout ratio is 41.53%.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were 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 of the company's stock, valued at $5,979,223. This trade represents a 7.99% 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. Also, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on TXRH. Stifel Nicolaus upped their target price on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group upped 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. Stephens upped their target price on 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 began coverage on Texas Roadhouse in a report on Monday, July 14th. They issued a "buy" rating and a $235.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $197.35.

About Texas Roadhouse

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.