Alliancebernstein L.P. Increases Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Alliancebernstein L.P. increased its stake in Texas Roadhouse by 8.2% during Q1, owning over $84 million in shares of the restaurant operator.
• Texas Roadhouse will pay a quarterly dividend of $0.68 per share on September 30, representing a yield of 1.6%.
• The company reported earnings of $1.86 per share for the last quarter, missing the consensus estimate by $0.09, while revenue grew 12.7% year-over-year.

Alliancebernstein L.P. increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 8.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 505,022 shares of the restaurant operator's stock after acquiring an additional 38,348 shares during the period. Alliancebernstein L.P. owned about 0.76% of Texas Roadhouse worth $84,152,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Axiom Investors LLC DE increased its stake in Texas Roadhouse by 3,696.7% in the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Texas Roadhouse by 209.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after purchasing an additional 1,089,256 shares during the last quarter. AQR Capital Management LLC increased its stake in Texas Roadhouse by 54.3% in the 1st quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock worth $209,840,000 after buying an additional 443,767 shares during the period. Wellington Management Group LLP lifted its holdings in Texas Roadhouse by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 750,479 shares of the restaurant operator's stock valued at $125,052,000 after buying an additional 66,731 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Texas Roadhouse by 1.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 702,048 shares of the restaurant operator's stock valued at $116,982,000 after buying an additional 8,904 shares in the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TXRH shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Bank of America increased their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Stephens increased their price target on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Stock Down 0.3%

Shares of NASDAQ TXRH traded down $0.47 during mid-day trading on Friday, reaching $166.69. 874,245 shares of the company were exchanged, compared to its average volume of 1,022,103. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The firm has a 50-day moving average of $178.58 and a 200 day moving average of $178.51. The stock has a market cap of $11.08 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 2.28 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its 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 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 quarter in the prior year, the firm posted $1.79 earnings per share. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's payout ratio is currently 41.53%.

Insider Transactions at Texas Roadhouse

In other news, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction 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 represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $519,180.00. Following the transaction, the director 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 three months, insiders have sold 8,342 shares of company stock valued at $1,443,704. Corporate 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.