Canada Pension Plan Investment Board Acquires Shares of 6,600 Texas Roadhouse, Inc. $TXRH

Key Points

• Canada Pension Plan Investment Board acquired 6,600 Texas Roadhouse shares worth approximately $1.275 million during the second quarter. Institutional investors collectively own 94.82% of the company.
• Texas Roadhouse exceeded quarterly expectations, reporting $1.85 in EPS on $1.68 billion in revenue, with revenue increasing 11.1% year over year.
• The company declared a quarterly dividend of $0.75 per share, equivalent to a $3.00 annual payout and 1.5% yield; analysts maintain a “Moderate Buy” consensus with a $208.48 target price.

Canada Pension Plan Investment Board acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,600 shares of the restaurant operator's stock, valued at approximately $1,275,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Texas Roadhouse during the second quarter worth about $1,273,173,000. Balyasny Asset Management L.P. bought a new stake in Texas Roadhouse in the 3rd quarter valued at about $157,310,000. Wellington Management Group LLP boosted its holdings in Texas Roadhouse by 228.4% in 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 purchasing an additional 924,306 shares during the period. Norges Bank acquired a new position in shares of Texas Roadhouse during the 4th quarter worth approximately $145,734,000. Finally, Steadfast Capital Management LP grew its position in shares of Texas Roadhouse by 99.2% during the 3rd quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock worth $211,949,000 after purchasing an additional 635,178 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Texas Roadhouse Price Performance

TXRH stock opened at $195.60 on Tuesday. The company's 50-day moving average price is $198.51 and its two-hundred day moving average price is $180.80. The firm has a market cap of $12.84 billion, a P/E ratio of 31.30, a P/E/G ratio of 1.97 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $216.30.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The restaurant operator reported $1.85 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.02. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 EPS. On average, analysts anticipate that Texas Roadhouse, Inc. will post 6.63 earnings per share 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. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse's dividend payout ratio is presently 48.00%.

Analyst Ratings Changes

TXRH has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target on shares of Texas Roadhouse from $210.00 to $235.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Robert W. Baird raised Texas Roadhouse to a "strong-buy" rating in a research report on Monday, August 24th. 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 note on Friday, May 8th. Stifel Nicolaus lifted their price objective on Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Texas Roadhouse from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.48.

Insider Activity

In other Texas Roadhouse news, CEO Gerald L. Morgan sold 15,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 80,970 shares of the company's stock, valued at approximately $16,369,704.90. This trade represents a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh J. Carroll sold 650 shares of Texas Roadhouse stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $203.99, for a total value of $132,593.50. Following the completion of the transaction, the director owned 2,883 shares in the company, valued at approximately $588,103.17. The trade was a 18.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,396 shares of company stock valued at $4,143,825. Corporate insiders own 0.50% of the company's stock.

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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