Hodges Capital Management Inc. Sells 16,266 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Hodges Capital Management Inc. reduced its position in Texas Roadhouse by 43.1% in Q1, now owning 21,509 shares valued at $3.58 million.
• Several hedge funds, including Brooklyn Investment Group and Park Place Capital Corp, significantly increased their stakes during the same period, highlighting institutional interest in TXRH.
• Texas Roadhouse recently reported quarterly earnings with a missing EPS estimate, despite revenue growing by 12.7% year-over-year, and is set to pay a quarterly dividend of $0.68 per share.

Hodges Capital Management Inc. lowered its holdings in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 21,509 shares of the restaurant operator's stock after selling 16,266 shares during the period. Hodges Capital Management Inc.'s holdings in Texas Roadhouse were worth $3,584,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Texas Roadhouse during the 1st quarter valued at $4,732,000. WBI Investments LLC bought a new position in shares of Texas Roadhouse during the 1st quarter valued at $247,000. Geneos Wealth Management Inc. grew its holdings in Texas Roadhouse by 36.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 419 shares of the restaurant operator's stock worth $70,000 after acquiring an additional 111 shares during the last quarter. Focus Partners Wealth increased its position in shares of Texas Roadhouse by 23.3% in the first quarter. Focus Partners Wealth now owns 6,124 shares of the restaurant operator's stock valued at $1,020,000 after acquiring an additional 1,157 shares during the period. Finally, Advisory Alpha LLC increased its position in shares of Texas Roadhouse by 3.0% in the first quarter. Advisory Alpha LLC now owns 2,063 shares of the restaurant operator's stock valued at $344,000 after acquiring an additional 60 shares during the period. Institutional investors own 94.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TXRH shares. UBS Group boosted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research report on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on shares of Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus target price of $197.35.

Texas Roadhouse Price Performance

NASDAQ:TXRH traded down $0.86 during mid-day trading on Wednesday, hitting $164.75. 297,102 shares of the company's stock were exchanged, compared to its average volume of 1,105,983. Texas Roadhouse, Inc. has a one year low of $148.73 and a one year high of $206.04. The business has a fifty day moving average price of $177.72 and a 200 day moving average price of $178.31. The company has a market cap of $10.95 billion, a PE ratio of 25.15, a P/E/G ratio of 2.26 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.79 EPS. The company's revenue was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 EPS for the current fiscal year.

Texas Roadhouse Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 1.7%. Texas Roadhouse's payout ratio is presently 41.53%.

Insider Buying and Selling

In related news, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $172.40, for a total transaction of $377,383.60. Following the sale, the chief technology officer owned 17,553 shares of the company's stock, valued at $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 8,342 shares of company stock valued at $1,443,704 over the last quarter. Corporate 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.