Entropy Technologies LP Invests $2.38 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• Entropy Technologies LP opened a new position in Texas Roadhouse, buying 14,364 shares worth about $2.38 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 94.82% of the stock. Several large firms recently increased their stakes, while insiders also sold shares last quarter.
• Texas Roadhouse beat earnings expectations in its latest quarter, reporting $1.87 EPS versus the $1.80 estimate, though revenue slightly missed forecasts. The company also announced a quarterly dividend of $0.75 per share, yielding about 1.8%.

Entropy Technologies LP bought a new stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,364 shares of the restaurant operator's stock, valued at approximately $2,384,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in shares of Texas Roadhouse by 14.7% during the 3rd quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator's stock valued at $604,606,000 after buying an additional 466,176 shares during the period. Capital World Investors boosted its holdings in Texas Roadhouse by 13.4% in the 4th quarter. Capital World Investors now owns 2,537,290 shares of the restaurant operator's stock worth $421,190,000 after acquiring an additional 300,405 shares during the period. UBS Group AG grew its position in Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator's stock valued at $230,317,000 after acquiring an additional 522,509 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Texas Roadhouse by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator's stock valued at $226,984,000 after purchasing an additional 24,834 shares during the period. Finally, Steadfast Capital Management LP raised its stake in shares of Texas Roadhouse by 99.2% during the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock valued at $211,949,000 after purchasing an additional 635,178 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Christopher C. Colson sold 499 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $179.22, for a total transaction of $89,430.78. Following the completion of the transaction, the insider owned 14,500 shares in the company, valued at $2,598,690. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Curtis Warfield sold 2,640 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $183.05, for a total value of $483,252.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,178 shares of company stock valued at $1,794,797 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

TXRH has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Texas Roadhouse from $220.00 to $200.00 and set an "overweight" rating for the company in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of Texas Roadhouse from $182.00 to $188.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a research note on Friday, May 29th. Citigroup dropped their target price on Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Finally, Piper Sandler boosted their price target on Texas Roadhouse from $190.00 to $192.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $196.36.

Texas Roadhouse Trading Down 0.2%

NASDAQ:TXRH opened at $167.54 on Tuesday. The company has a market cap of $11.01 billion, a PE ratio of 26.76, a P/E/G ratio of 1.84 and a beta of 0.79. The business's 50 day moving average is $168.42 and its two-hundred day moving average is $173.61. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $197.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same period last year, the business posted $1.70 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that Texas Roadhouse, Inc. will post 6.4 EPS for the current year.

Texas Roadhouse Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. Texas Roadhouse's dividend payout ratio is currently 47.92%.

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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