17,890 Shares in Texas Roadhouse, Inc. $TXRH Purchased by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP invested approximately $2.98 million in Texas Roadhouse, acquiring 17,890 shares in the first quarter.
• Institutional investors own approximately 94.82% of Texas Roadhouse's stock, indicating strong interest and backing from the investment community.
• Texas Roadhouse declared a quarterly dividend of $0.68, scheduled to be paid on September 30th, representing an annual yield of 1.6%.

Concentric Capital Strategies LP acquired a new stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,890 shares of the restaurant operator's stock, valued at approximately $2,981,000.

Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in shares of Texas Roadhouse by 478.6% in 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 stake in shares of Texas Roadhouse in the 1st quarter worth approximately $33,000. WPG Advisers LLC purchased a new stake in shares of Texas Roadhouse in the 1st quarter worth approximately $59,000. Park Place Capital Corp lifted its position in shares of Texas Roadhouse by 459.1% in 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 lifted its position in shares of Texas Roadhouse by 41.9% in 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 owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Performance

NASDAQ TXRH traded down $1.37 during mid-day trading on Monday, reaching $167.48. 1,064,906 shares of the stock were exchanged, compared to its average volume of 1,113,452. The business's 50 day moving average is $180.77 and its 200-day moving average is $178.77. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a market capitalization of $11.13 billion, a P/E ratio of 25.57, a P/E/G ratio of 2.31 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.09). The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.79 earnings per share. Equities analysts predict that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently disclosed 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. This represents a $2.72 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio (DPR) is presently 41.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TXRH. The Goldman Sachs Group upped their price target on shares of Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Barclays boosted their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, Bank of America boosted their price objective on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus price target of $197.35.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.06, for a total transaction of $519,180.00. Following the transaction, the director directly owned 34,550 shares of the company's stock, valued at $5,979,223. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president directly owned 15,261 shares in the company, valued at approximately $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.50% of the company's stock.

About Texas Roadhouse

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.