Ausbil Investment Management Ltd Acquires New Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Ausbil Investment Management acquired 8,025 Texas Roadhouse shares worth approximately $1.54 million, while institutional investors collectively own 94.82% of the company.
• Texas Roadhouse exceeded quarterly expectations with $1.85 EPS versus $1.83 expected and $1.68 billion in revenue, up 11.1% year over year.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $208.48; the company also announced a quarterly dividend of $0.75 per share.

Ausbil Investment Management Ltd bought a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,025 shares of the restaurant operator's stock, valued at approximately $1,537,000.

A number of other institutional investors have also recently made changes to their positions in TXRH. Balyasny Asset Management L.P. purchased a new position in shares of Texas Roadhouse in the third quarter worth $157,310,000. Wellington Management Group LLP raised its stake in Texas Roadhouse by 228.4% during the 4th quarter. Wellington Management Group LLP now owns 1,329,052 shares of the restaurant operator's stock valued at $220,623,000 after buying an additional 924,306 shares during the last quarter. Norges Bank bought a new position in shares of Texas Roadhouse during the 4th quarter valued at $145,734,000. Steadfast Capital Management LP boosted its stake in shares of Texas Roadhouse by 99.2% in the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock worth $211,949,000 after buying an additional 635,178 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Texas Roadhouse by 27.4% during the 4th quarter. AQR Capital Management LLC now owns 2,674,102 shares of the restaurant operator's stock valued at $443,901,000 after purchasing an additional 575,685 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Insider Buying and Selling

In other news, Director Jane Grote Abell sold 339 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $177.43, for a total transaction of $60,148.77. Following the transaction, the director owned 2,161 shares of the company's stock, valued at approximately $383,426.23. The trade was a 13.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Colson sold 499 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the completion of the sale, the insider directly owned 14,500 shares in the company, valued at $2,598,690. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,264 shares of company stock worth $409,937 in the last 90 days. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TXRH shares. BTIG Research upped their target price on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a report on Friday. Piper Sandler raised their price objective on Texas Roadhouse from $192.00 to $208.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays lowered their price objective on Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Stephens boosted their price objective on Texas Roadhouse from $180.00 to $205.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Benchmark reissued a "hold" rating on shares of Texas Roadhouse in a report on Monday. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $208.48.

Texas Roadhouse Trading Down 0.3%

TXRH stock opened at $207.46 on Tuesday. Texas Roadhouse, Inc. has a 1-year low of $153.82 and a 1-year high of $213.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.40. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 2.29 and a beta of 0.79. The business has a 50 day simple moving average of $188.18 and a two-hundred day simple moving average of $178.88.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.86 earnings per share. Research analysts anticipate that Texas Roadhouse, Inc. will post 6.49 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.4%. Texas Roadhouse's dividend payout ratio (DPR) is 48.00%.

Texas Roadhouse Profile

Texas Roadhouse, Inc is a casual dining restaurant chain specializing in hand‐cut steaks, fall‐off‐the‐bone ribs, chicken, seafood and house specialties. Each restaurant features a Western‐themed décor, open kitchens and a signature line dance presentation of fresh, made‐from‐scratch sides and breads. The company emphasizes an energetic dining experience, focusing on hospitality, value and a family‐friendly environment.

The concept was created in 1993 by founder Kent Taylor, who sought to combine high‐quality steaks with an approachable, community‐oriented atmosphere.

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