Cubist Systematic Strategies LLC Acquires 22,647 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Texas Roadhouse by 57.6%, acquiring an additional 22,647 shares in the first quarter. This investment brings their total ownership to 61,973 shares valued at approximately $10.3 million.
• Texas Roadhouse recently reported earnings of $1.86 per share, missing estimates of $1.95, while revenue rose 12.7% year-over-year to $1.51 billion.
• The company declared a quarterly dividend of $0.68 per share, with an annualized yield of 1.6%, to be paid on September 30th to stockholders of record on September 2nd.

Cubist Systematic Strategies LLC increased its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 57.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 61,973 shares of the restaurant operator's stock after purchasing an additional 22,647 shares during the period. Cubist Systematic Strategies LLC owned 0.09% of Texas Roadhouse worth $10,327,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Texas Roadhouse by 478.6% during the first 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 bought a new position in Texas Roadhouse during the first quarter worth about $33,000. WPG Advisers LLC bought a new position in Texas Roadhouse during the first quarter worth about $59,000. Park Place Capital Corp boosted its holdings in shares of Texas Roadhouse by 459.1% during the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after acquiring an additional 303 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Texas Roadhouse by 41.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after acquiring an additional 112 shares during the period. Institutional investors own 94.82% of the company's stock.

Insider Activity

In other news, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Hernan E. Mujica sold 2,189 shares of Texas Roadhouse stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the sale, the chief technology officer owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,342 shares of company stock worth $1,443,704. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXRH. The Goldman Sachs Group boosted their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Stifel Nicolaus boosted their price objective on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. UBS Group boosted their price objective on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Bank of America boosted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $197.85.

Texas Roadhouse Trading Up 0.1%

NASDAQ TXRH opened at $172.55 on Tuesday. Texas Roadhouse, Inc. has a 1-year low of $148.73 and a 1-year high of $206.04. The company has a 50 day moving average of $182.06 and a 200-day moving average of $178.86. The company has a market cap of $11.47 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.36 and a beta of 0.84.

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

Texas Roadhouse Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Texas Roadhouse's payout ratio is presently 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.

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