Alliancebernstein L.P. Acquires 38,348 Shares of 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. grew its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 505,022 shares of the restaurant operator's stock after purchasing an additional 38,348 shares during the quarter. Alliancebernstein L.P. owned about 0.76% of Texas Roadhouse worth $84,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of Texas Roadhouse by 54.3% in the first 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 last quarter. Amundi boosted its stake in shares of Texas Roadhouse by 2,865.8% in the first quarter. Amundi now owns 78,684 shares of the restaurant operator's stock valued at $13,144,000 after buying an additional 76,031 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in Texas Roadhouse during the first quarter worth approximately $696,000. Cubist Systematic Strategies LLC grew its position in Texas Roadhouse by 57.6% during the first quarter. Cubist Systematic Strategies LLC now owns 61,973 shares of the restaurant operator's stock worth $10,327,000 after buying an additional 22,647 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Texas Roadhouse by 108.6% during the first quarter. Royal Bank of Canada now owns 321,908 shares of the restaurant operator's stock worth $53,640,000 after buying an additional 167,569 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

TXRH has been the topic of a number of analyst reports. Stifel Nicolaus increased 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. Citigroup increased their price target on Texas Roadhouse from $180.00 to $197.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Evercore ISI downgraded Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 price target on the stock. in a research report on Thursday, September 4th. 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 initiated coverage on Texas Roadhouse in a research report on Monday, July 14th. They set a "buy" rating and a $235.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $197.35.

Texas Roadhouse Stock Performance

Shares of TXRH traded up $0.64 during trading hours on Tuesday, reaching $168.12. The stock had a trading volume of 1,284,464 shares, compared to its average volume of 1,025,557. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The stock has a market capitalization of $11.17 billion, a PE ratio of 25.67, a PEG ratio of 2.29 and a beta of 0.84. The company's 50-day moving average is $179.95 and its two-hundred day moving average is $178.68.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced 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 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 previous year, the company posted $1.79 earnings per share. The firm's revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. 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 dividend payout ratio (DPR) is currently 41.53%.

Insider Buying and Selling

In related news, Director Gregory N. Moore sold 3,000 shares of the firm'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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the firm'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 transaction, the president directly owned 15,261 shares of the company's stock, valued at approximately $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. Insiders sold a total of 8,342 shares of company stock valued at $1,443,704 in the last three months. 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.