Martingale Asset Management L P Has $17.84 Million Stake in Texas Roadhouse, Inc. $TXRH

Key Points

• Martingale Asset Management cut its Texas Roadhouse position by 6.8%, selling 7,890 shares to hold 107,342 shares worth $17.84 million (≈0.16% of the company), while overall institutional ownership remains high at 94.82% and several large funds materially increased their stakes.
• Texas Roadhouse missed earnings for the quarter—$1.28 EPS vs. $1.53 expected and $1.48B revenue vs. $1.50B—yet raised its quarterly dividend to $0.75 (annualized $3.00, yield 1.8%; ex-dividend March 17).
• Analysts hold a consensus Moderate Buy with a $196.55 target, while the stock trades around $169.44 (12‑month range $148.73–$199.99) and was down roughly 1.6% on the day.

Martingale Asset Management L P reduced its stake in shares of Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,342 shares of the restaurant operator's stock after selling 7,890 shares during the period. Martingale Asset Management L P owned 0.16% of Texas Roadhouse worth $17,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alliancebernstein L.P. grew its position in Texas Roadhouse by 528.2% during the second quarter. Alliancebernstein L.P. now owns 3,172,738 shares of the restaurant operator's stock worth $594,603,000 after buying an additional 2,667,716 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Texas Roadhouse by 17.2% in the second quarter. Invesco Ltd. now owns 2,603,729 shares of the restaurant operator's stock worth $487,965,000 after buying an additional 382,699 shares in the last quarter. AQR Capital Management LLC grew its position in Texas Roadhouse by 85.7% during the second quarter. AQR Capital Management LLC now owns 2,343,000 shares of the restaurant operator's stock worth $439,102,000 after buying an additional 1,081,413 shares during the period. Capital World Investors boosted its stake in Texas Roadhouse by 580.2% during the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock valued at $371,658,000 after buying an additional 1,908,033 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Texas Roadhouse by 1.5% in the second quarter. Geode Capital Management LLC now owns 1,302,021 shares of the restaurant operator's stock valued at $244,048,000 after buying an additional 19,296 shares in the last quarter. 94.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TXRH shares. BMO Capital Markets reissued a "market perform" rating and issued a $165.00 target price on shares of Texas Roadhouse in a report on Friday, February 20th. Truist Financial cut their price objective on shares of Texas Roadhouse from $188.00 to $186.00 and set a "hold" rating on the stock in a research report on Friday, February 20th. TD Cowen started coverage on Texas Roadhouse in a research note on Tuesday, January 20th. They set a "buy" rating and a $215.00 price objective on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of Texas Roadhouse in a research report on Monday, December 29th. Finally, BTIG Research restated a "buy" rating and issued a $200.00 target price on shares of Texas Roadhouse in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Texas Roadhouse currently has a consensus rating of "Moderate Buy" and a consensus target price of $196.55.

Texas Roadhouse Stock Down 1.6%

Shares of NASDAQ:TXRH opened at $169.44 on Friday. Texas Roadhouse, Inc. has a 12-month low of $148.73 and a 12-month high of $199.99. The business's 50 day moving average is $182.89 and its 200 day moving average is $173.61. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 1.86 and a beta of 0.86.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its earnings results on Thursday, February 19th. The restaurant operator reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.25). The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. Texas Roadhouse had a return on equity of 27.88% and a net margin of 6.90%.Texas Roadhouse's quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, equities research analysts expect that Texas Roadhouse, Inc. will post 7.23 earnings per share for the current year.

Texas Roadhouse Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.75 dividend. This is an increase from Texas Roadhouse's previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Texas Roadhouse's dividend payout ratio is 44.66%.

Insider Buying and Selling at Texas Roadhouse

In related news, Director Gregory N. Moore sold 1,700 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $171.59, for a total transaction of $291,703.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donna E. Epps sold 850 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $172.45, for a total value of $146,582.50. Following the completion of the transaction, the director owned 4,892 shares of the company's stock, valued at $843,625.40. The trade was a 14.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,550 shares of company stock valued at $2,353,936 in the last quarter. Corporate insiders own 0.50% of the company's stock.

About Texas Roadhouse

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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