Legal & General Group Plc Takes $17 Million Position in Texas Roadhouse, Inc. $TXRH

Key Points

• Legal & General Group acquired 87,976 Texas Roadhouse shares valued at approximately $17 million, while institutional investors and hedge funds collectively own 94.82% of the company.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $208.48.
• Texas Roadhouse exceeded quarterly earnings and revenue expectations, reporting $1.85 in EPS and $1.68 billion in revenue, while declaring a quarterly dividend of $0.75 per share—a 1.5% yield.

Legal & General Group Plc acquired a new position in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 87,976 shares of the restaurant operator's stock, valued at approximately $17,000,000. Legal & General Group Plc owned approximately 0.13% of Texas Roadhouse as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TXRH. The Manufacturers Life Insurance Company acquired a new stake in shares of Texas Roadhouse during the second quarter worth $9,473,000. Park Presidio Capital LLC acquired a new position in shares of Texas Roadhouse in the 2nd quarter valued at $102,977,000. Visionary Wealth Advisors purchased a new position in Texas Roadhouse in the 2nd quarter worth about $4,228,000. Algert Global LLC purchased a new position in Texas Roadhouse in the 2nd quarter worth about $3,816,000. Finally, Ranger Investment Management L.P. acquired a new stake in Texas Roadhouse during the 2nd quarter worth about $21,560,000. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird upgraded shares of Texas Roadhouse to a "strong-buy" rating in a report on Monday, August 24th. BMO Capital Markets upped their price target on shares of Texas Roadhouse from $165.00 to $180.00 and gave the company a "market perform" rating in a research report on Thursday, May 21st. Barclays decreased 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 research note on Friday, May 8th. Wall Street Zen upgraded shares of Texas Roadhouse from a "sell" rating to a "hold" rating in a research report on Sunday, May 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $208.48.

Texas Roadhouse Price Performance

NASDAQ TXRH opened at $198.99 on Monday. The company has a 50 day simple moving average of $198.20 and a 200-day simple moving average of $180.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.46 and a quick ratio of 0.39. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.79. Texas Roadhouse, Inc. has a 52-week low of $153.82 and a 52-week high of $216.30.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The restaurant operator reported $1.85 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.02. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.67 billion. Texas Roadhouse had a net margin of 6.63% and a return on equity of 27.20%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.86 earnings per share. Equities research analysts predict that Texas Roadhouse, Inc. will post 6.63 earnings per share for the current fiscal year.

Texas Roadhouse Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 1st. Texas Roadhouse's payout ratio is currently 48.00%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Donna E. Epps sold 820 shares of Texas Roadhouse stock in a transaction on Monday, August 17th. The stock was sold at an average price of $206.56, for a total transaction of $169,379.20. Following the completion of the sale, the director owned 4,042 shares of the company's stock, valued at approximately $834,915.52. This trade represents a 16.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lloyd Paul Marshall sold 500 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $204.65, for a total value of $102,325.00. Following the completion of the transaction, the insider owned 9,826 shares in the company, valued at $2,010,890.90. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,396 shares of company stock worth $4,143,825 over the last 90 days. 0.50% of the stock is currently owned by insiders.

Texas Roadhouse Company 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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