Algert Global LLC bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,750 shares of the restaurant operator's stock, valued at approximately $3,816,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXRH. BlackRock Inc. acquired a new position in Texas Roadhouse in the 2nd quarter valued at approximately $1,273,173,000. Balyasny Asset Management L.P. purchased a new position in shares of Texas Roadhouse during the 3rd quarter valued at $157,310,000. Wellington Management Group LLP increased its stake in shares of Texas Roadhouse by 228.4% in the fourth quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock worth $220,623,000 after acquiring an additional 924,306 shares during the last quarter. Norges Bank acquired a new position in shares of Texas Roadhouse in the fourth quarter worth $145,734,000. Finally, Steadfast Capital Management LP raised its holdings in shares of Texas Roadhouse by 99.2% during the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock worth $211,949,000 after acquiring an additional 635,178 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.
Insiders Place Their Bets
In related news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.32, for a total value of $624,960.00. Following the sale, the director directly owned 26,900 shares in the company, valued at $5,603,808. This trade represents a 10.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gerald L. Morgan sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $202.17, for a total transaction of $3,032,550.00. Following the transaction, the chief executive officer owned 80,970 shares of the company's stock, valued at approximately $16,369,704.90. This represents a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,396 shares of company stock valued at $4,143,825 in the last ninety days. 0.50% of the stock is currently owned by insiders.
Texas Roadhouse Stock Down 0.6%
NASDAQ:TXRH opened at $198.99 on Friday. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 1.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. The stock's fifty day moving average price is $198.20 and its two-hundred day moving average price is $180.76. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.
Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. Texas Roadhouse had a return on equity of 27.20% and a net margin of 6.63%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Texas Roadhouse, Inc. will post 6.63 EPS for the current year.
Texas Roadhouse Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.5%. Texas Roadhouse's payout ratio is 48.00%.
Analyst Ratings Changes
A number of research firms have issued reports on TXRH. Citigroup lifted their target price on shares of Texas Roadhouse from $193.00 to $209.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Royal Bank Of Canada raised their price target on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $212.00 price objective on shares of Texas Roadhouse in a research note on Friday, August 7th. Guggenheim reaffirmed a "buy" rating and issued a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $208.48.
Get Our Latest Analysis on Texas Roadhouse
Texas Roadhouse Profile
(
Free Report)
Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.
The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.
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