First Hawaiian Bank Increases Position in Texas Roadhouse, Inc. $TXRH

Key Points

• First Hawaiian Bank increased its stake in Texas Roadhouse by 101% in the first quarter, resulting in ownership of 17,309 shares valued at approximately $2.88 million.
• Several large investors also adjusted their holdings, with Brooklyn Investment Group increasing its position by 478.6% during the same period.
• Texas Roadhouse reported earnings that missed estimates, but its revenue rose 12.7% year-over-year, with a quarterly dividend of $0.68 announced for September.

First Hawaiian Bank raised its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 101.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,309 shares of the restaurant operator's stock after buying an additional 8,698 shares during the period. First Hawaiian Bank's holdings in Texas Roadhouse were worth $2,884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group boosted its position in shares of Texas Roadhouse by 478.6% during the first quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock valued at $27,000 after buying an additional 134 shares during the period. Bogart Wealth LLC purchased a new stake in shares of Texas Roadhouse in the first quarter valued at approximately $33,000. WPG Advisers LLC purchased a new stake in shares of Texas Roadhouse in the first quarter valued at approximately $59,000. Park Place Capital Corp boosted its holdings in shares of Texas Roadhouse by 459.1% in the first quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock valued at $61,000 after purchasing an additional 303 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Texas Roadhouse by 41.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock valued at $63,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Wall Street Analyst Weigh In

TXRH has been the subject of a number of research reports. Melius Research upgraded Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. The Goldman Sachs Group boosted their price target on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Melius started coverage on Texas Roadhouse in a report on Monday, July 14th. They set a "buy" rating and a $235.00 target price for the company. Stephens upped their target price on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Finally, Guggenheim upped their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.35.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $166.69 on Friday. The stock's fifty day moving average price is $178.58 and its 200 day moving average price is $178.51. Texas Roadhouse, Inc. has a 1 year low of $148.73 and a 1 year high of $206.04. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.28 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results 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). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the company earned $1.79 earnings per share. Texas Roadhouse's revenue was up 12.7% on a year-over-year basis. Research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is presently 41.53%.

Insider Activity at Texas Roadhouse

In related news, Director Gregory N. Moore sold 3,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total value 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 represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $172.40, for a total value of $377,383.60. Following the sale, the chief technology officer directly owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% 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 in the last ninety days. Company 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.

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