28,400 Shares in Texas Roadhouse, Inc. $TXRH Purchased by Strs Ohio

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 acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,400 shares of the restaurant operator's stock, valued at approximately $4,732,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXRH. Axiom Investors LLC DE boosted its position in Texas Roadhouse by 3,696.7% during the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after purchasing an additional 1,089,256 shares during the period. Congress Asset Management Co. boosted its position in Texas Roadhouse by 8,956.4% during the 1st quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after purchasing an additional 460,537 shares during the period. AQR Capital Management LLC boosted its position in Texas Roadhouse by 54.3% during the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock valued at $209,840,000 after purchasing an additional 443,767 shares during the period. Finally, GAMMA Investing LLC boosted its position in Texas Roadhouse by 19,250.9% during the 1st quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock valued at $54,171,000 after purchasing an additional 323,415 shares during the period. Institutional investors and hedge funds own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TXRH shares. Morgan Stanley boosted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Guggenheim reiterated a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Tuesday. Stifel Nicolaus boosted their price target on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Bank of America boosted their price target on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Barclays boosted their price target on Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. One research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $197.35.

Texas Roadhouse Price Performance

Shares of TXRH traded down $1.54 during midday trading on Friday, reaching $158.24. The stock had a trading volume of 2,096,979 shares, compared to its average volume of 1,054,516. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The firm's 50 day moving average price is $176.14 and its 200-day moving average price is $177.88. The company has a market capitalization of $10.52 billion, a P/E ratio of 24.16, a P/E/G ratio of 2.18 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data 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 return on equity of 31.52% and a net margin of 7.72%.The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm posted $1.79 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. On average, equities 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 announced 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 1.7%. Texas Roadhouse's payout ratio is 41.53%.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the sale, the director directly owned 34,550 shares of the company's stock, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the sale, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock valued at $1,443,704 over the last three months. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Company 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.