AQR Capital Management LLC Boosts Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• AQR Capital Management LLC increased its stake in Texas Roadhouse by 54.3%, acquiring a total of 1,261,587 shares, valued at approximately $209.84 million.
• Texas Roadhouse recently missed its EPS estimate, reporting $1.86 as opposed to the anticipated $1.95, though it experienced a 12.7% increase in quarterly revenue compared to last year.
• The company declared a quarterly dividend of $0.68 per share, set to be paid on September 30th, representing an annualized yield of 1.6%.

AQR Capital Management LLC boosted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 54.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,261,587 shares of the restaurant operator's stock after buying an additional 443,767 shares during the quarter. AQR Capital Management LLC owned 1.90% of Texas Roadhouse worth $209,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Amundi grew its holdings 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 worth $13,144,000 after purchasing an additional 76,031 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in shares of Texas Roadhouse in the first quarter worth about $696,000. Cubist Systematic Strategies LLC grew its holdings in shares of Texas Roadhouse by 57.6% in the first quarter. Cubist Systematic Strategies LLC now owns 61,973 shares of the restaurant operator's stock worth $10,327,000 after purchasing an additional 22,647 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Texas Roadhouse by 108.6% in the first quarter. Royal Bank of Canada now owns 321,908 shares of the restaurant operator's stock worth $53,640,000 after purchasing an additional 167,569 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Texas Roadhouse by 49.7% in the first quarter. Armistice Capital LLC now owns 164,701 shares of the restaurant operator's stock worth $27,444,000 after purchasing an additional 54,701 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial set a $212.00 price target on shares of Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Barclays upped their price target on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley upped their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Bank of America upped their price objective on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Stifel Nicolaus upped their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.85.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the completion of the sale, the director directly owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the sale, the chief technology officer directly owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,342 shares of company stock valued at $1,443,704. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Price Performance

NASDAQ:TXRH opened at $171.57 on Thursday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The company has a 50-day moving average of $181.46 and a 200 day moving average of $178.76. The firm has a market cap of $11.40 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 earnings per share. Sell-side analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal 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 given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Texas Roadhouse 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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