Fort Washington Investment Advisors Inc. OH Sells 19,530 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Fort Washington Investment Advisors cut its Texas Roadhouse stake by 14.0% in the first quarter, selling 19,530 shares and leaving it with 119,715 shares valued at about $19.77 million.
• Texas Roadhouse reported strong quarterly results, with EPS of $1.87 beating estimates and revenue rising 10.5% year over year to $1.63 billion.
• The company announced a quarterly dividend of $0.75 per share, and analysts remain mixed overall with a consensus rating of Hold and an average price target of $196.36.

Fort Washington Investment Advisors Inc. OH lessened its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,715 shares of the restaurant operator's stock after selling 19,530 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.18% of Texas Roadhouse worth $19,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in Texas Roadhouse by 12.0% during the 1st quarter. NewEdge Advisors LLC now owns 2,423 shares of the restaurant operator's stock valued at $404,000 after purchasing an additional 259 shares during the last quarter. Focus Partners Wealth raised its holdings in Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator's stock worth $1,020,000 after buying an additional 1,157 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Texas Roadhouse by 36.0% in the first quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock worth $70,000 after buying an additional 111 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Texas Roadhouse in the second quarter worth approximately $657,000. Finally, Marshall Wace LLP bought a new position in shares of Texas Roadhouse in the second quarter worth approximately $1,936,000. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Performance

Shares of NASDAQ TXRH opened at $196.59 on Monday. The firm's 50-day moving average price is $171.63 and its 200-day moving average price is $174.27. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03. The company has a market cap of $12.92 billion, a PE ratio of 31.40, a PEG ratio of 2.15 and a beta of 0.79. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $197.00.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.80 by $0.07. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $1.70 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts anticipate that Texas Roadhouse, Inc. will post 6.42 EPS for the current year.

Texas Roadhouse Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 2nd will be issued a $0.75 dividend. The ex-dividend date is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a yield of 1.5%. Texas Roadhouse's dividend payout ratio (DPR) is currently 47.92%.

Insider Buying and Selling

In other Texas Roadhouse news, insider Christopher C. Colson sold 499 shares of Texas Roadhouse stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $179.22, for a total value of $89,430.78. Following the completion of the sale, the insider owned 14,500 shares of the company's stock, valued at approximately $2,598,690. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Curtis Warfield sold 2,640 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $183.05, for a total transaction of $483,252.00. Following the sale, the director owned 5,361 shares of the company's stock, valued at approximately $981,331.05. This represents a 33.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,728 shares of company stock valued at $1,033,847 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TXRH shares. Guggenheim reissued a "buy" rating and set a $210.00 price target on shares of Texas Roadhouse in a research report on Monday, May 18th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Friday, May 29th. Royal Bank Of Canada raised Texas Roadhouse from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $180.00 to $210.00 in a research report on Friday, May 15th. Wells Fargo & Company cut their target price on Texas Roadhouse from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $201.00 target price on shares of Texas Roadhouse in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Texas Roadhouse currently has an average rating of "Hold" and a consensus price target of $196.36.

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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