Cinctive Capital Management LP Grows Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Cinctive Capital Management LP has increased its stake in Texas Roadhouse, acquiring an additional 20,409 shares, boosting its holdings by 239.4% to a total of 28,933 shares, valued at approximately $4.82 million.
• Texas Roadhouse will pay a quarterly dividend of $0.68 on September 30th, with an annualized dividend yield of 1.6% and a payout ratio of 41.53%.
• Analysts have given Texas Roadhouse a consensus rating of "Moderate Buy" with an average price target of $197.35, indicating overall positive sentiment towards the stock despite recent earnings missing expectations.

Cinctive Capital Management LP lifted its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 239.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,933 shares of the restaurant operator's stock after purchasing an additional 20,409 shares during the quarter. Cinctive Capital Management LP's holdings in Texas Roadhouse were worth $4,821,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 134 shares during the period. Bogart Wealth LLC purchased a new position in shares of Texas Roadhouse during the 1st quarter worth $33,000. WPG Advisers LLC purchased a new position in shares of Texas Roadhouse during the 1st quarter worth $59,000. Park Place Capital Corp grew its holdings in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 303 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after purchasing an additional 112 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.06, for a total value of $519,180.00. Following the transaction, the director owned 34,550 shares in the company, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of the transaction, the president owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,342 shares of company stock worth $1,443,704. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

TXRH has been the topic of several research reports. Bank of America increased their target price on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Stephens increased their target price on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Morgan Stanley increased their target price on Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus increased their target price on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $197.35.

Texas Roadhouse Stock Down 0.8%

NASDAQ TXRH traded down $1.37 during trading hours on Monday, hitting $167.48. 1,064,906 shares of the company were exchanged, compared to its average volume of 1,113,452. The company has a 50 day moving average of $180.77 and a two-hundred day moving average of $178.77. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.31 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the company earned $1.79 EPS. Texas Roadhouse's revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts predict that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.72 annualized dividend and a yield of 1.6%. Texas Roadhouse's dividend payout ratio is 41.53%.

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.