Texas Roadhouse, Inc. $TXRH Shares Acquired by Armistice Capital LLC

Key Points

• Armistice Capital LLC increased its stake in Texas Roadhouse by 49.7% during the first quarter, owning 164,701 shares valued at approximately $27.4 million.
• Several institutional investors significantly enhanced their holdings in Texas Roadhouse, with Axiom Investors LLC increasing by an astonishing 3,696.7% to own over 2.17 million shares.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, translating to an annualized yield of 1.6%, with the payout ratio currently at 41.53%.

Armistice Capital LLC boosted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 49.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,701 shares of the restaurant operator's stock after acquiring an additional 54,701 shares during the quarter. Armistice Capital LLC owned 0.25% of Texas Roadhouse worth $27,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after acquiring an additional 134 shares during the period. Bogart Wealth LLC purchased a new position in Texas Roadhouse during the 1st quarter valued at about $33,000. WPG Advisers LLC purchased a new position in Texas Roadhouse during the 1st quarter valued at about $59,000. Park Place Capital Corp boosted its holdings in Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 303 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TXRH has been the subject of several recent research reports. Morgan Stanley lifted their price objective on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Citigroup lifted their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Truist Financial set a $212.00 price objective on Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Melius initiated coverage on Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Texas Roadhouse currently has an average rating of "Moderate Buy" and a consensus target price of $197.85.

Insiders Place Their Bets

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction that occurred 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 transaction, the chief technology officer owned 17,553 shares of the company's stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction that occurred 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 in the company, valued at approximately $2,648,241.33. This trade represents a 17.12% 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 valued at $1,443,704 over the last quarter. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Price Performance

Shares of NASDAQ TXRH traded up $0.29 during midday trading on Wednesday, hitting $171.57. 608,099 shares of the company's stock were exchanged, compared to its average volume of 1,125,092. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The company has a market cap of $11.40 billion, a PE ratio of 26.19, a P/E/G ratio of 2.36 and a beta of 0.84. The firm's fifty day simple moving average is $181.46 and its 200-day simple moving average is $178.76.

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 analyst estimates of $1.50 billion. Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company's quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $1.79 EPS. Equities analysts anticipate that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.6%. Texas Roadhouse's payout ratio is 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.