Focus Partners Advisor Solutions LLC Takes $696,000 Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Focus Partners Advisor Solutions LLC has acquired a stake of approximately $696,000 in Texas Roadhouse, buying 4,177 shares in the 1st quarter of 2023.
• Analysts have set mixed expectations for Texas Roadhouse, with price targets ranging from $190.00 to $235.00, reflecting varying degrees of confidence in the company's stock.
• The company recently announced a quarterly dividend of $0.68 per share, representing an annual yield of 1.6%.

Focus Partners Advisor Solutions LLC acquired a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,177 shares of the restaurant operator's stock, valued at approximately $696,000.

Several other hedge funds have also bought and sold shares of TXRH. Cubist Systematic Strategies LLC raised its stake in shares of Texas Roadhouse by 57.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 61,973 shares of the restaurant operator's stock worth $10,327,000 after buying an additional 22,647 shares during the period. Royal Bank of Canada increased its stake in shares of Texas Roadhouse by 108.6% in the 1st quarter. Royal Bank of Canada now owns 321,908 shares of the restaurant operator's stock worth $53,640,000 after acquiring an additional 167,569 shares during the last quarter. Armistice Capital LLC increased its stake in shares of Texas Roadhouse by 49.7% in the 1st quarter. Armistice Capital LLC now owns 164,701 shares of the restaurant operator's stock worth $27,444,000 after acquiring an additional 54,701 shares during the last quarter. Quarry LP grew its holdings in shares of Texas Roadhouse by 21.4% during the 1st quarter. Quarry LP now owns 725 shares of the restaurant operator's stock worth $121,000 after purchasing an additional 128 shares during the period. Finally, Night Squared LP purchased a new position in shares of Texas Roadhouse during the 1st quarter worth $6,461,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Up 0.5%

NASDAQ:TXRH traded up $0.79 during trading hours on Tuesday, reaching $168.27. 1,026,160 shares of the stock were exchanged, compared to its average volume of 1,112,536. The stock has a market capitalization of $11.18 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.31 and a beta of 0.84. The firm has a 50 day simple moving average of $180.37 and a 200-day simple moving average of $178.76. 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 issued its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 EPS. As a group, analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup lifted their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Melius Research raised Texas Roadhouse to a "strong-buy" rating in a report on Monday, July 14th. Stephens boosted their target price on Texas Roadhouse from $184.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Stifel Nicolaus boosted their price target on Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Finally, UBS Group upped their price target on Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. One 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 stock. According to data from MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and an average price target of $197.35.

Insider Buying and Selling at Texas Roadhouse

In related news, President Regina A. Tobin sold 3,153 shares of Texas Roadhouse stock in a transaction on Monday, August 18th. The stock was sold at an average price of $173.53, for a total value of $547,140.09. Following the transaction, the president directly owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory N. Moore sold 3,000 shares of Texas Roadhouse 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 completion of the transaction, the director owned 34,550 shares in the company, valued at $5,979,223. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock valued at $1,443,704 in the last quarter. Corporate insiders own 0.50% of the company's stock.

About Texas Roadhouse

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.