Ascent Group LLC Increases Stake in Texas Roadhouse, Inc. $TXRH

Key Points

• Ascent Group LLC has increased its stake in Texas Roadhouse, Inc. by 108.1% during the first quarter, now holding 17,948 shares valued at approximately $2.99 million.
• Several analysts have provided positive outlooks for Texas Roadhouse, with ratings ranging from buy to strong buy, and raised target prices, indicating growing confidence in the stock.
• The company reported a quarterly earnings miss with an EPS of $1.86, below the expected $1.95, but revenue increased year-over-year by 12.7% to $1.51 billion.

Ascent Group LLC increased its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 108.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,948 shares of the restaurant operator's stock after acquiring an additional 9,324 shares during the quarter. Ascent Group LLC's holdings in Texas Roadhouse were worth $2,991,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its holdings in Texas Roadhouse by 2.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the restaurant operator's stock worth $458,000 after acquiring an additional 62 shares during the last quarter. Optas LLC increased its holdings in Texas Roadhouse by 1.3% in the 1st quarter. Optas LLC now owns 5,217 shares of the restaurant operator's stock worth $869,000 after acquiring an additional 65 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Texas Roadhouse by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 13,627 shares of the restaurant operator's stock worth $2,271,000 after acquiring an additional 66 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Texas Roadhouse by 14.0% in the 1st quarter. Smartleaf Asset Management LLC now owns 601 shares of the restaurant operator's stock worth $103,000 after acquiring an additional 74 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Texas Roadhouse by 3.6% in the 1st quarter. Blue Trust Inc. now owns 2,309 shares of the restaurant operator's stock worth $385,000 after acquiring an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several research 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. The Goldman Sachs Group raised their target price on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. UBS Group raised their target price on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Barclays raised their target price on Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Texas Roadhouse presently has an average rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Trading Down 0.8%

Shares of TXRH opened at $167.48 on Tuesday. The company has a market cap of $11.13 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. The stock has a 50-day moving average price of $180.37 and a 200-day moving average price of $178.76. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04.

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

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is 41.53%.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director directly owned 34,550 shares of the company's stock, valued at approximately $5,979,223. This trade represents a 7.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Regina A. Tobin sold 3,153 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were 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 represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by insiders.

About Texas Roadhouse

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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