Texas Roadhouse, Inc. $TXRH Shares Bought by Ascent Group LLC

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 stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 108.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,948 shares of the restaurant operator's stock after purchasing 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TXRH. Axiom Investors LLC DE boosted its stake in shares of Texas Roadhouse by 3,696.7% during the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Texas Roadhouse by 209.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after buying an additional 1,089,256 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of Texas Roadhouse by 8,956.4% during the first quarter. Congress Asset Management Co. now owns 465,679 shares of the restaurant operator's stock valued at $77,596,000 after buying an additional 460,537 shares during the period. AQR Capital Management LLC boosted its position in Texas Roadhouse by 54.3% during the first quarter. AQR Capital Management LLC now owns 1,261,587 shares of the restaurant operator's stock worth $209,840,000 after acquiring an additional 443,767 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Texas Roadhouse by 19,250.9% during the first quarter. GAMMA Investing LLC now owns 325,095 shares of the restaurant operator's stock worth $54,171,000 after acquiring an additional 323,415 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insider Transactions at Texas Roadhouse

In other news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the completion of the sale, the director owned 34,550 shares of the company's stock, valued at $5,979,223. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction 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 completion of the sale, the chief technology officer directly owned 17,553 shares of the company's stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,342 shares of company stock valued at $1,443,704 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TXRH shares. UBS Group boosted their price target on Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday, June 6th. Citigroup upped their target price on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group raised their price target on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Evercore ISI cut Texas Roadhouse from an "outperform" rating to an "in-line" rating and set a $190.00 price target for the company. in a report on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Price Performance

TXRH stock traded down $0.47 on Friday, hitting $166.69. 874,245 shares of the company were exchanged, compared to its average volume of 1,031,875. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04. The business's fifty day moving average is $178.58 and its two-hundred day moving average is $178.53. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued 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). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.79 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. Equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

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

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.