BNP Paribas Financial Markets Boosts Holdings in Texas Roadhouse, Inc. $TXRH

Key Points

• BNP Paribas Financial Markets boosted its Texas Roadhouse stake by 169.8% in the fourth quarter, bringing its holdings to 75,431 shares valued at about $12.5 million.
• Texas Roadhouse posted better-than-expected earnings for the quarter, with EPS of $1.87 versus the $1.80 estimate, while revenue rose 10.5% year over year to $1.63 billion.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $196.36, even as Royal Bank of Canada upgraded the shares to Outperform.

BNP Paribas Financial Markets increased its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 169.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,431 shares of the restaurant operator's stock after purchasing an additional 47,475 shares during the period. BNP Paribas Financial Markets owned 0.11% of Texas Roadhouse worth $12,522,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Elyxium Wealth LLC bought a new stake in Texas Roadhouse in the 4th quarter worth approximately $25,000. Princeton Global Asset Management LLC bought a new stake in Texas Roadhouse in the 4th quarter worth approximately $31,000. Measured Wealth Private Client Group LLC bought a new stake in Texas Roadhouse in the 3rd quarter worth approximately $33,000. TD Private Client Wealth LLC increased its stake in Texas Roadhouse by 137.5% in the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock worth $44,000 after acquiring an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Texas Roadhouse by 36.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock worth $70,000 after acquiring an additional 111 shares during the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on TXRH. Royal Bank Of Canada raised Texas Roadhouse from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $180.00 to $210.00 in a research note on Friday, May 15th. BMO Capital Markets lifted their target price on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a report on Thursday, May 21st. Stephens lifted their target price on Texas Roadhouse from $168.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. Barclays dropped their target price on Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Finally, Wells Fargo & Company dropped their target price on Texas Roadhouse from $220.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $196.36.

Texas Roadhouse Price Performance

Shares of TXRH stock opened at $170.46 on Monday. Texas Roadhouse, Inc. has a twelve month low of $153.82 and a twelve month high of $197.00. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.87 and a beta of 0.79. The stock has a fifty day simple moving average of $168.02 and a two-hundred day simple moving average of $173.79. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its earnings results on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same period in the prior year, the business earned $1.70 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse's payout ratio is presently 47.92%.

Insider Transactions at Texas Roadhouse

In other news, President Regina A. Tobin sold 4,450 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $171.00, for a total value of $760,950.00. Following the completion of the transaction, the president directly owned 13,778 shares of the company's stock, valued at approximately $2,356,038. The trade was a 24.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Hernan E. Mujica sold 5,000 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $170.00, for a total value of $850,000.00. Following the transaction, the chief technology officer directly owned 15,552 shares in the company, valued at $2,643,840. This represents a 24.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,166 shares of company stock worth $2,813,705. Company insiders own 0.50% of the company's stock.

Texas Roadhouse Company 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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