Bamco Inc. NY Takes $60.15 Million Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Bamco Inc. NY acquired 311,275 Texas Roadhouse shares worth approximately $60.15 million, giving it a 0.47% stake. Institutional investors collectively own 94.82% of the company.
• Texas Roadhouse reported quarterly EPS of $1.85, exceeding estimates by $0.02, while revenue rose 11.1% year over year to $1.68 billion. Shares recently traded at $203.88, near the analyst consensus target of $208.48.
• The company declared a quarterly dividend of $0.75 per share, equivalent to a $3.00 annualized payout and a 1.5% yield. Meanwhile, insiders have sold about $3.91 million of stock over the past 90 days.

Bamco Inc. NY acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 311,275 shares of the restaurant operator's stock, valued at approximately $60,148,000. Bamco Inc. NY owned about 0.47% of Texas Roadhouse as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TXRH. &PARTNERS lifted its holdings in shares of Texas Roadhouse by 3.5% during the fourth quarter. &PARTNERS now owns 1,820 shares of the restaurant operator's stock worth $302,000 after purchasing an additional 61 shares during the period. Fifth Third Bancorp boosted its holdings in Texas Roadhouse by 11.6% in the fourth quarter. Fifth Third Bancorp now owns 644 shares of the restaurant operator's stock valued at $107,000 after acquiring an additional 67 shares during the last quarter. Glenmede Trust Co. NA increased its position in Texas Roadhouse by 3.9% during the 1st quarter. Glenmede Trust Co. NA now owns 1,815 shares of the restaurant operator's stock valued at $300,000 after purchasing an additional 68 shares during the period. Beacon Investment Advisors LLC increased its position in Texas Roadhouse by 1.4% during the 4th quarter. Beacon Investment Advisors LLC now owns 5,338 shares of the restaurant operator's stock valued at $886,000 after purchasing an additional 72 shares during the period. Finally, Compound Planning Inc. raised its holdings in Texas Roadhouse by 5.6% during the 4th quarter. Compound Planning Inc. now owns 1,408 shares of the restaurant operator's stock worth $234,000 after purchasing an additional 75 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

Texas Roadhouse Stock Up 0.3%

Shares of NASDAQ:TXRH opened at $203.88 on Thursday. The business's 50 day simple moving average is $197.33 and its two-hundred day simple moving average is $180.56. The firm has a market cap of $13.38 billion, a P/E ratio of 32.62, a PEG ratio of 2.01 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.39 and a current ratio of 0.46. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.

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

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. Texas Roadhouse's payout ratio is presently 48.00%.

Insider Buying and Selling at Texas Roadhouse

In other news, CEO Gerald L. Morgan sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $202.17, for a total value of $3,032,550.00. Following the transaction, the chief executive officer owned 80,970 shares in the company, valued at $16,369,704.90. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Donna E. Epps sold 820 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total value of $169,379.20. Following the sale, the director owned 4,042 shares of the company's stock, valued at $834,915.52. This trade represents a 16.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 19,246 shares of company stock worth $3,908,907. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TXRH has been the topic of a number of analyst reports. Wall Street Zen raised shares of Texas Roadhouse from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Robert W. Baird upgraded shares of Texas Roadhouse to a "strong-buy" rating in a report on Monday. Guggenheim reiterated a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a report on Monday, May 18th. 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, August 7th. Finally, Stifel Nicolaus upped their target price on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and an average target price of $208.48.

About Texas Roadhouse

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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