CenterBook Partners LP Invests $3.49 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• CenterBook Partners LP disclosed a new position in Texas Roadhouse, buying 21,005 shares worth about $3.49 million in the fourth quarter.
• Texas Roadhouse reported better-than-expected earnings for the quarter, with EPS of $1.87 versus estimates of $1.80, while revenue rose 10.5% year over year to $1.63 billion.
• The company announced a quarterly dividend of $0.75 per share, implying a $3.00 annualized payout and a 1.8% yield; meanwhile, several analysts currently rate the stock around Hold/Neutral.

CenterBook Partners LP acquired a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 21,005 shares of the restaurant operator's stock, valued at approximately $3,487,000.

Several other large investors also recently bought and sold shares of TXRH. Elyxium Wealth LLC purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $25,000. Princeton Global Asset Management LLC purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $31,000. Measured Wealth Private Client Group LLC purchased a new stake in Texas Roadhouse during the 3rd quarter valued at about $33,000. TD Private Client Wealth LLC grew its stake in Texas Roadhouse by 137.5% during the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock valued at $44,000 after acquiring an additional 154 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Texas Roadhouse during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Down 1.6%

TXRH stock opened at $167.78 on Tuesday. The firm has a market cap of $11.03 billion, a PE ratio of 26.80, a PEG ratio of 1.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The firm's 50 day moving average price is $168.05 and its 200-day moving average price is $173.77. Texas Roadhouse, Inc. has a one year low of $153.82 and a one year high of $197.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.70 EPS. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 6.4 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company 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 dividend of $0.75 per share. 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 Activity

In other news, Director Curtis Warfield sold 2,640 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the sale, the director owned 5,361 shares of the company's stock, valued at approximately $981,331.05. The trade was a 33.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jane Grote Abell sold 339 shares of Texas Roadhouse stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $177.43, for a total transaction of $60,148.77. Following the sale, the director directly owned 2,161 shares in the company, valued at approximately $383,426.23. The trade was a 13.56% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 16,166 shares of company stock worth $2,813,705. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp reaffirmed a "sector weight" rating on shares of Texas Roadhouse in a research note on Friday, February 20th. Stephens upped their price objective on shares of Texas Roadhouse from $168.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, February 20th. Barclays dropped their price objective on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $200.00 price objective on shares of Texas Roadhouse in a research note on Friday, May 8th. Finally, Citigroup dropped their price objective on shares of Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $196.36.

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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