Federated Hermes Inc. Buys 133,464 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Federated Hermes Inc. increased its stake in Texas Roadhouse by 37.4% during the 1st quarter, acquiring a total of 489,936 shares valued at approximately $81.6 million.
• Texas Roadhouse's stock currently has an average rating of "Moderate Buy" with an average price target of $196.85 from various analysts.
• The company recently announced a quarterly dividend of $0.68 per share, representing an annualized yield of 1.47%.

Federated Hermes Inc. boosted its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 37.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 489,936 shares of the restaurant operator's stock after acquiring an additional 133,464 shares during the quarter. Federated Hermes Inc. owned 0.74% of Texas Roadhouse worth $81,638,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TXRH. Norden Group LLC purchased a new position in shares of Texas Roadhouse in the first quarter valued at about $571,000. First National Advisers LLC purchased a new position in Texas Roadhouse during the 1st quarter valued at about $2,177,000. LPL Financial LLC raised its position in Texas Roadhouse by 26.0% during the 1st quarter. LPL Financial LLC now owns 45,294 shares of the restaurant operator's stock valued at $7,399,000 after purchasing an additional 9,342 shares during the last quarter. Texas Yale Capital Corp. lifted its holdings in Texas Roadhouse by 27.4% in the 1st quarter. Texas Yale Capital Corp. now owns 17,325 shares of the restaurant operator's stock worth $2,887,000 after buying an additional 3,729 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Texas Roadhouse by 2.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,429 shares of the restaurant operator's stock worth $2,904,000 after buying an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Price Performance

Texas Roadhouse stock traded down $2.16 during midday trading on Friday, reaching $182.97. 1,110,680 shares of the company traded hands, compared to its average volume of 723,651. Texas Roadhouse, Inc. has a 12 month low of $148.73 and a 12 month high of $206.04. The business has a 50 day moving average of $189.10 and a two-hundred day moving average of $179.13. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 2.61 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The restaurant operator reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.05). The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. Texas Roadhouse had a net margin of 7.89% and a return on equity of 32.33%. Texas Roadhouse's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 earnings per share. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, June 3rd. Texas Roadhouse's payout ratio is currently 41.98%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America upped their target price on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays raised their price objective on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Morgan Stanley raised their target price on Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Melius began coverage on Texas Roadhouse in a research report on Monday, July 14th. They set a "buy" rating and a $235.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $196.85.

Insider Transactions at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $187.62, for a total transaction of $187,620.00. Following the completion of the sale, the director directly owned 38,050 shares in the company, valued at approximately $7,138,941. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $149,216.00. Following the completion of the transaction, the director owned 4,632 shares in the company, valued at $863,960.64. The trade was a 14.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

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.