Kodai Capital Management LP Sells 4,696 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Kodai Capital Management LP has reduced its stake in Texas Roadhouse, Inc. by 13.0%, now holding 31,525 shares worth approximately $5.25 million.
• Texas Roadhouse reported earnings per share (EPS) of $1.86 for the last quarter, missing estimates by 9 cents, despite a year-over-year revenue increase of 12.7%.
• The company declared a quarterly dividend of $0.68 per share, with a dividend yield of 1.6%, set to be paid to stockholders of record on September 2nd.

Kodai Capital Management LP reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 13.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,525 shares of the restaurant operator's stock after selling 4,696 shares during the quarter. Kodai Capital Management LP's holdings in Texas Roadhouse were worth $5,253,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of Texas Roadhouse by 157.3% in the first quarter. Golden State Wealth Management LLC now owns 4,658 shares of the restaurant operator's stock worth $776,000 after purchasing an additional 2,848 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Texas Roadhouse by 253.5% in the first 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 bought a new stake in shares of Texas Roadhouse in the first quarter worth about $499,000. Running Oak Capital LLC grew its stake in shares of Texas Roadhouse by 9.3% in the first quarter. Running Oak Capital LLC now owns 89,385 shares of the restaurant operator's stock worth $14,933,000 after purchasing an additional 7,628 shares during the last quarter. Finally, Monument Capital Management bought a new stake in shares of Texas Roadhouse in the first quarter worth about $2,683,000. 94.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $173.53, for a total value of $547,140.09. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, CTO Hernan E. Mujica sold 2,189 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $172.40, for a total transaction of $377,383.60. Following the completion of the transaction, the chief technology officer owned 17,553 shares of the company's stock, valued at approximately $3,026,137.20. The trade was a 11.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 in the last three months. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TXRH shares. Guggenheim raised their target price on Texas Roadhouse from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Melius started coverage on Texas Roadhouse in a research report on Monday, July 14th. They set a "buy" rating and a $235.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on Texas Roadhouse from $184.00 to $205.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Bank of America lifted their price objective on Texas Roadhouse from $203.00 to $219.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup lifted their price objective on Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $197.85.

Texas Roadhouse Stock Up 0.2%

Shares of TXRH stock traded up $0.29 during trading hours on Wednesday, hitting $171.57. 607,920 shares of the company's stock traded hands, compared to its average volume of 1,109,330. The stock's fifty day simple moving average is $181.71 and its two-hundred day simple moving average is $178.81. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $206.04. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 2.36 and a beta of 0.84.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last released its earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.09). Texas Roadhouse had a net margin of 7.72% and a return on equity of 31.52%. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the business posted $1.79 earnings per share. Texas Roadhouse's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts forecast that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal 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. This represents a $2.72 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Texas Roadhouse's 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.