Invesco Ltd. Sells 258,293 Shares of Texas Roadhouse, Inc. (NASDAQ:TXRH)

Key Points

• Invesco Ltd. reduced its holdings in Texas Roadhouse by 10.4%, selling 258,293 shares during the first quarter, now owning approximately 3.34% of the company.
• The company reported $1.86 EPS for the latest quarter, missing expectations of $1.95, but saw revenues increase 12.7% year-over-year.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, with an annualized dividend yield of 1.6%, scheduled for distribution on September 30th.

Invesco Ltd. lowered its position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,221,030 shares of the restaurant operator's stock after selling 258,293 shares during the period. Invesco Ltd. owned approximately 3.34% of Texas Roadhouse worth $370,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC grew its position in shares of Texas Roadhouse by 157.3% in the 1st quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock worth $776,000 after buying an additional 2,848 shares during the last quarter. Comerica Bank grew its position in shares of Texas Roadhouse by 16.0% in the 4th quarter. Comerica Bank now owns 132,914 shares of the restaurant operator's stock worth $23,982,000 after buying an additional 18,339 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Texas Roadhouse by 253.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 38,086 shares of the restaurant operator's stock worth $6,346,000 after purchasing an additional 27,312 shares during the last quarter. Brighton Jones LLC purchased a new stake in Texas Roadhouse during the 1st quarter worth approximately $499,000. Finally, Running Oak Capital LLC lifted its stake in Texas Roadhouse by 9.3% during the 1st quarter. Running Oak Capital LLC now owns 89,385 shares of the restaurant operator's stock valued at $14,933,000 after acquiring an additional 7,628 shares during the period. Hedge funds and other institutional investors own 94.82% of the company's stock.

Texas Roadhouse Stock Up 1.2%

Shares of NASDAQ TXRH opened at $174.86 on Tuesday. The firm has a 50-day simple moving average of $187.22 and a 200-day simple moving average of $179.21. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.49 and a beta of 0.86. 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 announced its quarterly earnings data on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (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 firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company posted $1.79 EPS. The company's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 EPS for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.6%. Texas Roadhouse's dividend payout ratio is currently 41.53%.

Wall Street Analyst Weigh In

Several analysts have commented on TXRH shares. UBS Group lifted their price objective on shares of Texas Roadhouse from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Melius initiated coverage on shares of Texas Roadhouse in a research note on Monday, July 14th. They issued a "buy" rating and a $235.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Texas Roadhouse from $180.00 to $188.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Truist Financial set a $212.00 target price on shares of Texas Roadhouse and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Barclays boosted their target price on shares of Texas Roadhouse from $175.00 to $189.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $197.85.

Insider Activity

In related news, Director Donna E. Epps sold 800 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $186.52, for a total value of $149,216.00. Following the completion of the sale, the director owned 4,632 shares of the company's stock, valued at approximately $863,960.64. This represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse 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.

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