MUFG Securities EMEA plc Invests $29.71 Million in Texas Roadhouse, Inc. $TXRH

Key Points

• MUFG Securities EMEA plc opened a new position in Texas Roadhouse during the fourth quarter, buying 179,000 shares worth about $29.71 million. The stake represented roughly 0.27% of the company.
• Texas Roadhouse reported strong quarterly results, posting earnings of $1.87 per share and beating analyst estimates, while revenue grew 10.5% year over year to $1.63 billion. The company’s profitability also remained solid, with a 27.86% return on equity.
• The company announced a quarterly dividend of $0.75 per share, or $3.00 annually, for a yield of about 1.7%. Analysts remain mixed overall, with a consensus rating of “Hold” and a consensus target price of $196.36.

MUFG Securities EMEA plc purchased a new position in Texas Roadhouse, Inc. (NASDAQ:TXRH - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 179,000 shares of the restaurant operator's stock, valued at approximately $29,714,000. MUFG Securities EMEA plc owned about 0.27% of Texas Roadhouse at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in shares of Texas Roadhouse by 14.7% in the third quarter. Alliancebernstein L.P. now owns 3,638,914 shares of the restaurant operator's stock worth $604,606,000 after acquiring an additional 466,176 shares during the last quarter. Capital World Investors boosted its stake in shares of Texas Roadhouse by 580.2% in the third quarter. Capital World Investors now owns 2,236,885 shares of the restaurant operator's stock worth $371,658,000 after acquiring an additional 1,908,033 shares during the last quarter. UBS Group AG boosted its stake in shares of Texas Roadhouse by 60.4% in the fourth quarter. UBS Group AG now owns 1,387,454 shares of the restaurant operator's stock worth $230,317,000 after acquiring an additional 522,509 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Roadhouse by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,367,120 shares of the restaurant operator's stock worth $226,984,000 after acquiring an additional 24,834 shares during the last quarter. Finally, Steadfast Capital Management LP boosted its stake in shares of Texas Roadhouse by 99.2% in the third quarter. Steadfast Capital Management LP now owns 1,275,648 shares of the restaurant operator's stock worth $211,949,000 after acquiring an additional 635,178 shares during the last quarter. 94.82% of the stock is owned by institutional investors and hedge funds.

Texas Roadhouse Stock Performance

Shares of Texas Roadhouse stock opened at $180.62 on Friday. Texas Roadhouse, Inc. has a 52 week low of $153.82 and a 52 week high of $197.99. The business's fifty day simple moving average is $168.07 and its 200-day simple moving average is $173.65. The firm has a market cap of $11.87 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 0.03.

Texas Roadhouse (NASDAQ:TXRH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $1.87 EPS for the quarter, beating the consensus estimate of $1.80 by $0.07. Texas Roadhouse had a return on equity of 27.86% and a net margin of 6.85%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.70 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts forecast that Texas Roadhouse, Inc. will post 6.4 earnings per share for the current year.

Texas Roadhouse Announces Dividend

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

Insider Activity at Texas Roadhouse

In other Texas Roadhouse news, Director Gregory N. Moore sold 1,250 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $178.14, for a total transaction of $222,675.00. Following the sale, the director owned 30,900 shares in the company, valued at $5,504,526. This represents a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lloyd Paul Marshall sold 1,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $178.34, for a total value of $178,340.00. Following the sale, the insider owned 10,326 shares in the company, valued at approximately $1,841,538.84. This trade represents a 8.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,716 shares of company stock worth $3,251,991 over the last quarter. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Texas Roadhouse from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. Royal Bank Of Canada raised Texas Roadhouse from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $180.00 to $210.00 in a research note on Friday, May 15th. Stifel Nicolaus lifted their price target on Texas Roadhouse from $170.00 to $180.00 and gave the stock a "hold" rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on Texas Roadhouse from $182.00 to $188.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Finally, Barclays lowered their price objective on Texas Roadhouse from $188.00 to $175.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and fourteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Texas Roadhouse currently has a consensus rating of "Hold" and a consensus target price of $196.36.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.