Erste Asset Management GmbH Sells 217,808 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Erste Asset Management GmbH has reduced its stake in Texas Roadhouse by 68.2%, selling 217,808 shares and now owning 101,442 shares valued at approximately $16.8 million.
• Texas Roadhouse recently reported earnings of $1.86 per share, missing analysts' expectations, but its revenue for the quarter reached $1.51 billion, up 12.7% year-over-year.
• The company declared a quarterly dividend of $0.68 per share, representing an annualized yield of 1.5% with a payout ratio of 41.53%.

Erste Asset Management GmbH decreased its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 68.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,442 shares of the restaurant operator's stock after selling 217,808 shares during the period. Erste Asset Management GmbH owned approximately 0.15% of Texas Roadhouse worth $16,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Brooklyn Investment Group increased its position 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 valued at $27,000 after purchasing an additional 134 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Texas Roadhouse in the first quarter worth approximately $33,000. Coppell Advisory Solutions LLC boosted its stake in Texas Roadhouse by 56.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 196 shares of the restaurant operator's stock worth $35,000 after buying an additional 71 shares in the last quarter. Park Place Capital Corp grew its position in Texas Roadhouse by 459.1% during the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after acquiring an additional 303 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Texas Roadhouse by 41.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after acquiring an additional 112 shares during the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Texas Roadhouse Stock Up 1.2%

NASDAQ:TXRH opened at $175.91 on Wednesday. The firm has a market capitalization of $11.69 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.38 and a beta of 0.86. The company has a fifty day moving average of $184.93 and a 200 day moving average of $178.93. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04.

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

Texas Roadhouse Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a yield of 1.5%. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Wall Street Analysts Forecast Growth

TXRH has been the subject of a number of recent research reports. 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 report on Monday, July 14th. Stifel Nicolaus lifted their target price on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research report on Friday, July 25th. Melius Research raised shares of Texas Roadhouse to a "strong-buy" rating in a research note on Monday, July 14th. Stephens upped their price target on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Finally, Barclays raised their price objective on Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and an average target price of $197.85.

Insider Buying and Selling

In other Texas Roadhouse news, Director Donna E. Epps sold 800 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director owned 4,632 shares in the company, valued at approximately $863,960.64. This trade represents a 14.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.