Hodges Capital Management Inc. Has $3.58 Million Position in 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. reduced its holdings in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 43.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXRH. Brooklyn Investment Group increased its stake in shares of Texas Roadhouse by 478.6% during the 1st quarter. Brooklyn Investment Group now owns 162 shares of the restaurant operator's stock worth $27,000 after purchasing an additional 134 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter worth about $33,000. WPG Advisers LLC acquired a new position in shares of Texas Roadhouse during the 1st quarter worth about $59,000. Park Place Capital Corp increased its stake in shares of Texas Roadhouse by 459.1% during the 1st quarter. Park Place Capital Corp now owns 369 shares of the restaurant operator's stock worth $61,000 after purchasing an additional 303 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Texas Roadhouse by 41.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 379 shares of the restaurant operator's stock worth $63,000 after purchasing an additional 112 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Texas Roadhouse news, CTO Hernan E. Mujica sold 2,189 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer owned 17,553 shares in the company, valued at $3,026,137.20. This represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Regina A. Tobin sold 3,153 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $173.53, for a total transaction of $547,140.09. Following the transaction, the president owned 15,261 shares in the company, valued at approximately $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 a total of 8,342 shares of company stock worth $1,443,704 in the last quarter. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXRH. Truist Financial set a $212.00 price objective on shares of Texas Roadhouse and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. UBS Group boosted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus boosted their price objective on shares of Texas Roadhouse from $180.00 to $188.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Bank of America boosted their price objective on shares of Texas Roadhouse from $203.00 to $219.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Texas Roadhouse in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $197.35.

Texas Roadhouse Stock Performance

Shares of TXRH opened at $167.16 on Friday. Texas Roadhouse, Inc. has a 52 week low of $148.73 and a 52 week high of $206.04. The firm has a market cap of $11.11 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.27 and a beta of 0.84. The firm's 50-day simple moving average is $179.02 and its 200 day simple moving average is $178.56.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the company posted $1.79 EPS. The firm's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Texas Roadhouse's dividend payout ratio is presently 41.53%.

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.

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