Allianz Asset Management GmbH Reduces Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Allianz Asset Management GmbH reduced its stake in Texas Roadhouse (TXRH) by 64.3% in Q2, selling 191,723 shares to own 106,461 shares, valued at approximately $19.95 million.
• The company recently announced a quarterly dividend of $0.68 per share, with a payout ratio of 41.53% and an annualized yield of 1.5%.
• Despite the recent stake reduction by Allianz, Texas Roadhouse has shown positive revenue growth, with a 12.7% increase compared to the same quarter last year.

Allianz Asset Management GmbH decreased its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 64.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,461 shares of the restaurant operator's stock after selling 191,723 shares during the period. Allianz Asset Management GmbH owned 0.16% of Texas Roadhouse worth $19,952,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cypress Wealth Services LLC purchased a new position in Texas Roadhouse during the second quarter worth $204,000. Bayforest Capital Ltd grew its position in shares of Texas Roadhouse by 40.5% in the second quarter. Bayforest Capital Ltd now owns 2,053 shares of the restaurant operator's stock valued at $385,000 after purchasing an additional 592 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in shares of Texas Roadhouse in the second quarter valued at $217,000. Boston Trust Walden Corp grew its position in shares of Texas Roadhouse by 7.8% in the second quarter. Boston Trust Walden Corp now owns 239,056 shares of the restaurant operator's stock valued at $44,802,000 after purchasing an additional 17,316 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Texas Roadhouse by 14.3% in the second quarter. TD Asset Management Inc now owns 686,322 shares of the restaurant operator's stock valued at $128,624,000 after purchasing an additional 85,656 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TXRH. Stephens set a $175.00 price objective on Texas Roadhouse in a research report on Monday, October 13th. Bank of America lifted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus lifted their price objective on Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $195.25.

Insiders Place Their Bets

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 8,342 shares of company stock worth $1,443,704 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Texas Roadhouse Trading Up 2.7%

Shares of Texas Roadhouse stock opened at $177.48 on Monday. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The stock has a market capitalization of $11.79 billion, a P/E ratio of 27.10, a PEG ratio of 2.63 and a beta of 0.82. The business's fifty day moving average price is $168.98 and its 200 day moving average price is $176.97.

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

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Texas Roadhouse's payout ratio is currently 41.53%.

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.

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