Birinyi Associates Inc. Has $1.24 Million Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• Birinyi Associates Inc. reduced its stake in Texas Roadhouse by 20.5%, now holding a total of $1.24 million in shares after selling 1,705 shares in the second quarter.
• Texas Roadhouse reported earnings per share of $1.86, missing analysts' expectations by $0.09, despite a revenue increase of 12.7% compared to the previous year.
• The company recently announced a quarterly dividend of $0.68, which resulted in an annualized yield of 1.6% and a payout ratio of 41.53%.

Birinyi Associates Inc. lessened its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 20.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,621 shares of the restaurant operator's stock after selling 1,705 shares during the period. Birinyi Associates Inc.'s holdings in Texas Roadhouse were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Axiom Investors LLC DE lifted its stake in shares of Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after purchasing an additional 2,116,552 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Texas Roadhouse by 209.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock worth $268,209,000 after acquiring an additional 1,089,256 shares during the last quarter. AQR Capital Management LLC lifted its position in Texas Roadhouse by 54.3% during the 1st 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. Wellington Management Group LLP lifted its position in Texas Roadhouse by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 750,479 shares of the restaurant operator's stock worth $125,052,000 after acquiring an additional 66,731 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Texas Roadhouse by 1.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 702,048 shares of the restaurant operator's stock worth $116,982,000 after acquiring an additional 8,904 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Stock Down 0.3%

NASDAQ TXRH opened at $166.56 on Wednesday. The stock has a market cap of $11.07 billion, a P/E ratio of 25.43, a PEG ratio of 2.29 and a beta of 0.82. The company's 50-day simple moving average is $171.05 and its 200 day simple moving average is $177.05. Texas Roadhouse, Inc. has a twelve month low of $148.73 and a twelve month high of $206.04.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). The business had revenue of $1.51 billion during 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 period in the previous year, the firm earned $1.79 EPS. Research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. Texas Roadhouse's payout ratio is presently 41.53%.

Analyst Upgrades and Downgrades

TXRH has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Guggenheim reissued a "buy" rating and set a $210.00 target price on shares of Texas Roadhouse in a research report on Tuesday, September 16th. The Goldman Sachs Group cut their price objective on shares of Texas Roadhouse from $200.00 to $180.00 and set a "neutral" rating for the company in a research report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Texas Roadhouse in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and an average price target of $196.00.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.06, for a total value of $519,180.00. Following the sale, the director owned 34,550 shares of the company's stock, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were 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 in the company, valued at approximately $3,026,137.20. The trade was a 11.09% 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. 0.50% of the stock is owned by company insiders.

Texas Roadhouse Company 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.

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