Legal & General Group Plc Sells 20,087 Shares of Texas Roadhouse, Inc. $TXRH

Key Points

• Legal & General Group Plc reduced its Texas Roadhouse stake by 16.5% in the fourth quarter, selling 20,087 shares and leaving it with 101,752 shares valued at about $16.9 million.
• Texas Roadhouse reported better-than-expected quarterly earnings of $1.87 per share, while revenue came in slightly below estimates at $1.63 billion. Revenue still grew 10.5% year over year.
• The company announced a quarterly dividend of $0.75 per share, payable June 30, implying an annualized dividend of $3.00 and a yield of 1.7%.

Legal & General Group Plc trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 16.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,752 shares of the restaurant operator's stock after selling 20,087 shares during the period. Legal & General Group Plc owned 0.15% of Texas Roadhouse worth $16,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TXRH. Elyxium Wealth LLC purchased a new stake in shares of Texas Roadhouse in the 4th quarter worth $25,000. Princeton Global Asset Management LLC purchased a new stake in shares of Texas Roadhouse in the 4th quarter worth $31,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Texas Roadhouse in the 3rd quarter worth $33,000. TD Private Client Wealth LLC increased its stake in shares of Texas Roadhouse by 137.5% in the 4th quarter. TD Private Client Wealth LLC now owns 266 shares of the restaurant operator's stock worth $44,000 after purchasing an additional 154 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 111 shares in the last quarter. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TXRH shares. BMO Capital Markets increased their price target on Texas Roadhouse from $165.00 to $180.00 and gave the stock a "market perform" rating in a research note on Thursday, May 21st. Stifel Nicolaus increased their price objective on shares of Texas Roadhouse from $170.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday, May 12th. Guggenheim reissued a "buy" rating and set a $210.00 price objective on shares of Texas Roadhouse in a report on Monday, May 18th. Morgan Stanley reissued an "overweight" rating and set a $201.00 price objective on shares of Texas Roadhouse in a report on Friday, May 8th. Finally, Barclays dropped their price objective on shares of Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating for the company 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $196.36.

Texas Roadhouse Stock Down 2.9%

Shares of NASDAQ:TXRH opened at $175.40 on Tuesday. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 0.03. Texas Roadhouse, Inc. has a 12 month low of $153.82 and a 12 month high of $197.00. The company has a 50-day moving average price of $168.15 and a 200 day moving average price of $173.82. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.98 and a beta of 0.79.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.07. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.64 billion. Texas Roadhouse had a net margin of 6.85% and a return on equity of 27.86%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.70 earnings per share. As a group, equities research analysts predict that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 2nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $3.00 annualized dividend and a yield of 1.7%. Texas Roadhouse's dividend payout ratio (DPR) is presently 47.92%.

Insiders Place Their Bets

In other news, Director Jane Grote Abell sold 339 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $177.43, for a total transaction of $60,148.77. Following the transaction, the director directly owned 2,161 shares of the company's stock, valued at approximately $383,426.23. This trade represents a 13.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Curtis Warfield sold 2,640 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $183.05, for a total transaction of $483,252.00. Following the transaction, the director directly owned 5,361 shares in the company, valued at approximately $981,331.05. This trade represents a 33.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,716 shares of company stock valued at $3,251,991 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Texas Roadhouse Profile

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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