Texas Roadhouse, Inc. $TXRH Stock Position Decreased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC significantly reduced its stake in Texas Roadhouse, trimming holdings by 68.3% during the first quarter of the year, leaving them with 4,557 shares valued at approximately $759,000.
• During the same period, other hedge funds such as Golden State Wealth Management LLC and Wealth Enhancement Advisory Services LLC increased their positions in Texas Roadhouse by over 157% and 253%, respectively, highlighting mixed sentiment among institutional investors.
• Texas Roadhouse announced a quarterly dividend of $0.68 per share, with an expected payout occurring on September 30th, reflecting a 1.6% yield for shareholders.

Magnetar Financial LLC trimmed its stake in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 68.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,557 shares of the restaurant operator's stock after selling 9,800 shares during the period. Magnetar Financial LLC's holdings in Texas Roadhouse were worth $759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TXRH. Axiom Investors LLC DE boosted its stake in shares of Texas Roadhouse by 3,696.7% during the first quarter. Axiom Investors LLC DE now owns 2,173,807 shares of the restaurant operator's stock valued at $362,221,000 after purchasing an additional 2,116,552 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Texas Roadhouse by 209.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,609,608 shares of the restaurant operator's stock valued at $268,209,000 after acquiring an additional 1,089,256 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Texas Roadhouse by 9.8% during the first quarter. Wellington Management Group LLP now owns 750,479 shares of the restaurant operator's stock valued at $125,052,000 after acquiring an additional 66,731 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Texas Roadhouse by 1.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 702,048 shares of the restaurant operator's stock worth $116,982,000 after purchasing an additional 8,904 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Texas Roadhouse by 49.1% during the 1st quarter. TD Asset Management Inc now owns 600,666 shares of the restaurant operator's stock valued at $100,089,000 after buying an additional 197,939 shares during the period. Institutional investors own 94.82% of the company's stock.

Insider Buying and Selling at Texas Roadhouse

In other Texas Roadhouse news, President Regina A. Tobin sold 3,153 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $173.53, for a total transaction of $547,140.09. Following the completion of the sale, the president owned 15,261 shares in the company, valued at $2,648,241.33. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Hernan E. Mujica sold 2,189 shares of the firm'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 value of $377,383.60. Following the completion of the sale, the chief technology officer directly owned 17,553 shares in the company, valued at approximately $3,026,137.20. This trade represents a 11.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,342 shares of company stock worth $1,443,704 over the last 90 days. Insiders own 0.50% of the company's stock.

Texas Roadhouse Trading Down 1.2%

Shares of Texas Roadhouse stock traded down $2.09 during trading hours on Thursday, reaching $169.49. 1,237,517 shares of the company's stock were exchanged, compared to its average volume of 1,110,937. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. Texas Roadhouse, Inc. has a 52-week low of $148.73 and a 52-week high of $206.04. The company has a fifty day moving average of $181.46 and a 200-day moving average of $178.76.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The restaurant operator reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.09). Texas Roadhouse had a return on equity of 31.52% and a net margin of 7.72%.The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same period last year, the company posted $1.79 earnings per share. The firm's revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current fiscal year.

Texas Roadhouse Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Texas Roadhouse from $180.00 to $197.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Barclays lifted their price target on shares of Texas Roadhouse from $175.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Melius Research upgraded shares of Texas Roadhouse to a "strong-buy" rating in a research report on Monday, July 14th. Morgan Stanley boosted their price objective on shares of Texas Roadhouse from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, Melius assumed coverage on shares of Texas Roadhouse in a research report on Monday, July 14th. They set a "buy" rating and a $235.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, Texas Roadhouse has an average rating of "Moderate Buy" and a consensus price target of $197.35.

Texas Roadhouse Company 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.