First Trust Advisors LP Sells 51,867 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• First Trust Advisors LP cut its Texas Roadhouse stake by 37.6% in the first quarter, selling 51,867 shares and retaining 86,183 shares valued at approximately $14.2 million. Institutional investors collectively own 94.82% of the company.
• Texas Roadhouse reported quarterly EPS of $1.87, exceeding the $1.80 consensus estimate, while revenue rose 10.5% year over year to $1.63 billion. The company pays a quarterly dividend of $0.75 per share, representing a 1.4% yield.
• Analyst sentiment is mixed, with 10 Buy ratings and 13 Holds producing a consensus “Hold” rating and an average price target of $194.90. Shares opened at $208.22, near their 52-week high of $210.24.

First Trust Advisors LP trimmed its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 37.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,183 shares of the restaurant operator's stock after selling 51,867 shares during the quarter. First Trust Advisors LP owned approximately 0.13% of Texas Roadhouse worth $14,232,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TXRH. Elyxium Wealth LLC acquired a new position in Texas Roadhouse in the 4th quarter worth about $25,000. Princeton Global Asset Management LLC acquired a new stake in shares of Texas Roadhouse during the fourth quarter valued at about $31,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Texas Roadhouse in the third quarter valued at approximately $33,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Texas Roadhouse in the fourth quarter valued at approximately $34,000. Finally, TD Private Client Wealth LLC raised its holdings in Texas Roadhouse by 137.5% in the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock valued at $44,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 94.82% of the company's stock.

Insiders Place Their Bets

In other Texas Roadhouse news, Director Jane Grote Abell sold 339 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $177.43, for a total transaction of $60,148.77. Following the transaction, the director owned 2,161 shares in the company, valued at approximately $383,426.23. This represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Sean G. Renfroe sold 426 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $192.53, for a total transaction of $82,017.78. Following the sale, the general counsel directly owned 860 shares of the company's stock, valued at approximately $165,575.80. The trade was a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,154 shares of company stock worth $1,115,864 in the last quarter. Insiders own 0.50% of the company's stock.

Texas Roadhouse Trading Down 0.4%

Shares of TXRH stock opened at $208.22 on Friday. Texas Roadhouse, Inc. has a fifty-two week low of $153.82 and a fifty-two week high of $210.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.40 and a current ratio of 0.46. The stock has a 50 day simple moving average of $184.15 and a two-hundred day simple moving average of $178.09. The company has a market cap of $13.69 billion, a P/E ratio of 33.26, a PEG ratio of 2.31 and a beta of 0.78.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm posted $1.70 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts forecast that Texas Roadhouse, Inc. will post 6.45 earnings per share for the current year.

Texas Roadhouse Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 2nd were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 2nd. Texas Roadhouse's dividend payout ratio is presently 47.92%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXRH. Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Citigroup lowered their target price on Texas Roadhouse from $176.00 to $174.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada upgraded Texas Roadhouse from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $180.00 to $210.00 in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their price objective on Texas Roadhouse from $182.00 to $188.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Texas Roadhouse in a research note on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $194.90.

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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