First Hawaiian Bank Increases Stock 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 lifted its position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 101.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Axiom Investors LLC DE increased its stake in Texas Roadhouse by 3,696.7% in the 1st quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock worth $362,221,000 after purchasing an additional 2,116,552 shares during the period. Golden State Wealth Management LLC lifted its holdings in Texas Roadhouse by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock worth $776,000 after buying an additional 2,848 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Texas Roadhouse by 253.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock worth $6,346,000 after buying an additional 27,312 shares during the last quarter. Brighton Jones LLC purchased a new position in shares of Texas Roadhouse during the first quarter valued at approximately $499,000. Finally, Night Squared LP bought a new position in shares of Texas Roadhouse during the first quarter valued at approximately $6,461,000. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TXRH. Stephens lifted their price target on shares of Texas Roadhouse from $184.00 to $190.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Morgan Stanley boosted their price target on shares of Texas Roadhouse from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Barclays increased their price target on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Truist Financial set a $212.00 target price on Texas Roadhouse and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Bank of America raised their target price on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Texas Roadhouse presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.35.

Insider Activity

In related news, Director Gregory N. Moore sold 3,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.06, for a total transaction of $519,180.00. Following the sale, the director owned 34,550 shares in the company, valued at approximately $5,979,223. This represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction 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 directly owned 17,553 shares in the company, valued at approximately $3,026,137.20. This represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Stock Down 2.9%

TXRH traded down $4.82 during mid-day trading on Thursday, reaching $159.48. 707,709 shares of the company traded hands, compared to its average volume of 1,107,745. The company's fifty day moving average price is $177.27 and its 200-day moving average price is $178.21. The stock has a market capitalization of $10.60 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.26 and a beta of 0.84. 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 released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share 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 company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter last year, the firm posted $1.79 earnings per share. Texas Roadhouse's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is 41.53%.

Texas Roadhouse 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.